The Pensions Fund Committee of West Northamptonshire Council met on Monday 16 March 2026 to discuss a range of important financial and administrative matters concerning the Northamptonshire Pension Fund. Key agenda items included the approval of the Annual Business Plan and Medium-Term Strategy, a review of the Governance and Compliance Report, and updates on the Pension Dashboard and Communications Plan.

Governance and Compliance Report

The committee was scheduled to receive an update on governance and compliance matters impacting the Northamptonshire Pension Fund. This report, authored by Michelle Oakensen, Governance and Regulations Manager, aimed to inform the committee of significant current issues affecting the fund's management and administration. Topics covered included updates on the Local Government Pension Scheme (LGPS) in England and Wales, developments regarding Pension Dashboards, the role of the Scheme Advisory Board, and information from The Pensions Ombudsman and The Pensions Regulator. The report also addressed committee representation and skills development opportunities, alongside any immaterial amendments made to policies or strategies. The recommendation was for the committee to note the report, ensuring adequate oversight of issues impacting the fund and compliance with relevant legislation and guidance.

Northamptonshire Pension Fund - Business Plan and Medium-Term Strategy 2026/27

Mark Whitby, Head of Pensions, presented the Northamptonshire Pension Fund's Business Plan and Medium-Term Strategy for 2026/27 to 2028/29. The report provided an update on the year-end status of the 2025/26 Business Plan activities, noting that most had achieved a 'green' RAG status, with one exception in processing undecided leavers which was rated 'amber' due to incoming volumes and conflicting project priorities. The plan itself, detailed in Appendix B, outlines activities beyond day-to-day operations, focusing on key milestones and budget requirements across procurement, core governance, member and data projects, investment activities, and communications. Priority areas for the year included Pension Dashboards, McCloud Remedy Rectification, compliance with the General Code of Practice, and changes arising from government consultations on LGPS reforms. The committee was asked to approve the Business Plan and Medium-Term Strategy, along with the associated budget and the 2026/27 Climate Action Plan.

General Code of Practice Review

Madalina Bratec, Governance Specialist, presented an update on the Northamptonshire Pension Fund's compliance with the Pension Regulator's (TPR) General Code of Practice. The report indicated that the fund was largely compliant, with only a few requirements partially met. An action plan detailed the progress made, with most actions completed and the remainder due by April 2026. The intention for 2026 was to establish a compliance log to regularly test performance against the Code's requirements, making compliance a business-as-usual activity.

Data Improvement Strategy and Plan

Mohammed Mansha, Systems & Projects Manager, presented the revised Data Improvement Strategy and the Data Improvement Plan for 2026/27. The strategy outlines how the fund obtains, manages, and maintains good-quality data, including cyclical reviews and internal controls. The plan details specific areas of focus for the upcoming year, such as improving common data and ensuring readiness for Pension Dashboards. Updates to the strategy included reflecting legislative changes, simplifying stakeholder references, and noting new contractual arrangements for mortality screening and external tracing services. The plan focused on improving common data and data for specific exercises like annual statement production, McCloud, and Pension Dashboard readiness, with ongoing unprocessed leaver clearance as a key element. The committee was asked to approve both the revised strategy and the plan.

Review of Communications Strategy and Plan

Sharon Grimshaw, Communications Officer, presented the review of the communications strategy and the proposed communications plan for 2026/27. The communications strategy, updated and approved in March 2025, was reviewed again in January 2026 with no further changes recommended. The 2026/27 plan, detailed in Appendix A, outlines monthly communication activities for various stakeholder groups, including key initiatives like Pension Dashboards and the enhanced self-service portal, campaigns such as Pensions Awareness Week and National Pension Tracing Day, and statutory communications like annual pension statements. The committee was asked to note that no further changes were recommended to the communications strategy and to review the proposed communications plan.

Administration Report

Mark Whitby, Head of Pensions, presented the Administration Report for the period 1 October to 31 December 2025. The report detailed administrative performance against Key Performance Indicators (KPIs), noting that 62% were rated 'Green', 10% 'Amber', and 28% 'Red', indicating less than desired performance levels in some areas. However, the majority of KPIs showed improvement during the period, with positive provisional results for January 2026. 100% of employer contributions were received on time. The report also covered updates to the Fund's Risk Register, detailing new and updated mitigations, removed and added risks. The committee was asked to note the contents of the report, the cessation of Easy Clean Contractors Limited from the Fund, and to review the Risk Register.

Northamptonshire Pension Fund Committee Forward Agenda Plan

The committee was scheduled to review the forward agenda plan, which outlines upcoming topics for discussion at future meetings. This plan helps to ensure that the committee is aware of future business and can plan accordingly.

Exclusion of Press and Public

The agenda indicated that there would be a discussion item concerning the exclusion of the press and public. This typically occurs when sensitive or commercially sensitive information is to be discussed, such as financial details or specific investment strategies that are not yet in the public domain. The report pack noted that this was due to exempt information relating to the financial or business affairs of any particular person, including the authority itself.

Valuation Report, Strategic Asset Allocation, and Investment Pool Update Report

These items were marked as exempt, indicating that they contained sensitive financial or business information that would be discussed in private. The Valuation Report would likely cover the financial health of the pension fund and its ability to meet future liabilities. Strategic Asset Allocation would detail the fund's investment strategy and how it plans to achieve its long-term financial objectives. The Investment Pool Update Report would provide information on the performance and activities of the investment pool the fund participates in, likely Border to Coast Pension Partnership.

Urgent Business

The agenda included a standard item for Urgent Business, allowing the Chair to bring forward any matters that required immediate attention and had not been included on the published agenda.