The Pension Board of Hounslow Council met on Wednesday, 15 April 2026, to review the ongoing performance of the pension fund's administration and to consider the forward plan for the upcoming year. Discussions were scheduled to cover the fund's monitoring reports, administration performance, and compliance with pooling and good governance guidelines.

Pension Board Forward Plan 2026-27

The Board was scheduled to consider and adopt its work programme for the 2026-27 period. This plan outlines the key areas of focus for the Board's oversight activities throughout the year. A mandatory training day for Pension Fund Panel and Board members was scheduled for 4 June 2026, with the agenda to cover the roles and responsibilities of members, and links with external bodies such as the Pensions Regulator and the London Collective Investment Vehicle (LCIV). The training log, detailing completed training and future requirements, was also to be noted.

Pension Board Monitoring Report

This report provided an update on the monitoring activities undertaken by the Pension Fund Panel on 18 February 2026. It was scheduled to cover several key areas:

• Pension Fund Panel Meeting: The minutes of the Pension Fund Panel meeting held on 18 February 2026 were to be noted. The Pension Fund Panel's terms of reference include considering investment policy, managing the Fund in line with the Statement of Investment Principles, monitoring manager performance, exercising voting rights, and overseeing pension fund administration matters.
• Breaches and Late Payments: The report was expected to detail any breaches of procedure or late contribution payments made to the fund. Employers are required to make contributions by the 19th of the month following payroll deduction. The report was to include the late payment register, detailing employers who had missed payment deadlines. It was noted that at the time of the report, recorded payment breaches did not have a material effect on the pension fund, and no reports had been made to the Pensions Regulator.
• McCloud Remedy Update: An update was scheduled regarding the inclusion of McCloud remedy information in the 2026 annual benefit statements. It was noted that the necessary software update had been implemented, enabling the inclusion of this data, which is a significant change as no discretion applies to omit it for the 2026 statements.
• Pensions Dashboard Programme (PDP): The report was to provide an update on the Pensions Dashboard Programme, confirming that the Hounslow Pension Fund had been successfully connected to the Dashboard Programme. The Pensions Regulator is expected to issue a six-month notice regarding the public launch date.
• Government Response to Consultations: An update was scheduled on amendments to the Local Government Pension Scheme (LGPS) Regulations following the Government's response to the 2025 consultations. These include changes to death grants and survivor benefits, treatment of unpaid leave, the gender pensions gap, and the removal of the lifetime allowance. Additionally, regulations will be amended to extend LGPS membership to councillors and mayors in England from 11 May 2026.

Pension Fund Administration Performance Report

This report, from West Yorkshire Pension Fund (WYPF), covered the period from 1 October 2025 to 31 December 2025, providing an overview of the administration service's performance and benchmarking. Key performance indicators (KPIs) were to be reviewed, with a target of completing a minimum of 85% of processes within allotted days.

• Key Performance Indicators: The report detailed performance across various work types, with Priority 1 areas such as retirement quotes and actuals, and death processes, showing strong performance. However, areas like Interfund Linking and Transfer processes were identified as being affected by the McCloud remedy workload and staffing levels, requiring additional manual calculations due to software limitations.
• Outstanding Processes: A table was to show the number of outstanding processes by age, indicating a general trend of decreasing numbers of older outstanding cases.
• Shared Service Costs: The report was to provide an update on the shared service costs, noting a projected underspend, which was to be closely monitored for potential impacts on service delivery.
• Appendices: The report included appendices detailing KPI narratives, the age profile of scheme members, customer survey results, and current technical issues affecting the LGPS administration environment.

Compliance with Pooling and Good Governance Guide

This item was scheduled to provide an update on the progress made in complying with the pooling and good governance requirements for LGPS funds. Discussions were expected to cover the ongoing legislative process for the Pensions Bill, guidance from the Scheme Advisory Board, and the deadline for pooling assets by the end of March 2026. Considerations regarding the extent to which Hounslow's fund could direct or influence investments within the LCIV pooled fund were also to be discussed. The development of a local investment plan and the appointment of a Senior LGPS Officer and Independent Person were also on the agenda.

Terms of Reference

The Board was scheduled to review its Terms of Reference, which define its role in assisting Hounslow Council in the governance and administration of the London Borough of Hounslow Pension Fund. The Terms of Reference outline the Board's responsibilities, membership, and working arrangements, as established under the Public Service Pensions Act 2013 and LGPS Regulations 2015. The Board's role is to assist the Administering Authority to secure compliance with regulations and ensure the effective and efficient governance and administration of the LGPS.

Restricted Minutes

The Board was also scheduled to note the restricted minutes of the Pension Fund Panel meeting held on 18 February 2026, and the restricted minutes of the Pension Board meeting held on 21 January 2026. These items were designated as restricted due to the likely disclosure of exempt information.