The Pensions Committee and Board of Haringey Council is scheduled to meet on Tuesday 17 March 2026 to review a range of important financial and administrative matters concerning the Haringey Pension Fund. Key discussions are expected to focus on the fund's actuarial valuation, investment performance, and the business plan and budget for the upcoming financial year.

Haringey Pension Fund Actuarial Valuation Report

A significant item on the agenda is the report on the outcome of the actuarial valuation of the Haringey Pension Fund as at 31 March 2025. This valuation, conducted by the Fund's Actuary, Hymans Robertson¹, is crucial for determining the financial health of the pension fund. The report will present the conclusions regarding the fund's overall funding position, which is currently reported as a surplus of £543 million, with a funding level of 139% as of 31 March 2025. This represents a substantial improvement from the 2022 valuation, attributed to strong investment returns and higher interest rates.

The valuation also informs revised employer contribution rates for the next three years, starting from 1 April 2026. The report indicates a decrease in both the primary and secondary contribution rates compared to the previous valuation. The primary rate, representing the cost of future benefits, has decreased due to higher expected future investment returns, while the secondary rate, which addresses past service liabilities, has also reduced due to strong investment performance.

Additionally, an updated Funding Strategy Statement (FSS)² is presented for the Committee's approval. The FSS outlines how the fund's liabilities will be met, the pace of funding, and how employers contribute. While the core strategy remains consistent, the document has been updated to reflect new regulations, including reporting on the pension gender gap, and to improve accessibility. New appendices have been added covering policies on new employers, employer exits, contribution reviews, and ill-health risk management.

Pension Fund Business Plan and Budget for 2026/27

The Committee will also consider the Haringey Pension Fund Business Plan and Budget for the financial year 2026/27. This plan details the fund's strategic direction and business priorities, encompassing both routine activities and strategic initiatives aimed at enhancing member experience, strengthening governance, and improving operational effectiveness. The budget has been developed based on projected expenditure for 2025/26, taking into account anticipated workflows, external support costs, and any necessary additional resourcing. The report highlights that the plan and budget are expected to become a statutory requirement under upcoming LGPS (Amendment) Regulations 2026.

Pension Fund Quarterly Investment and Performance Update

An update on the Pension Fund's investment performance for the quarter ending 31 December 2025 will be provided. The fund's investment portfolio stood at £2.09 billion at the end of the quarter, showing a 2.3% increase attributed to strong equity returns. The report will include an overview of fund performance relative to its strategic benchmark, individual investment manager performance over a rolling three-year period, and the current asset allocation compared to the strategic benchmark. Notably, the strategic asset allocation has been updated to reflect a decision made in December 2025 to reduce holdings in the LCIV Buy and Maintain fund and reallocate to Index Linked Gilts. The update also covers investments with the London Collective Investment Vehicle (LCIV)³, the Local Authority Pension Fund Forum (LAPFF)⁴ engagement update, and market commentary from the independent advisor.

Other items scheduled for discussion include:

• Responsible Investment Policy: A report on the fund's responsible investment policy is scheduled, though the report itself is noted as to follow .
• Pension Administration Update: This report will provide updates on various administrative activities, including membership statistics, the online Member Self Service portal, Service Level Agreement statistics, contribution collection, internal disputes resolution procedures, the McCloud Project⁵, and the implementation of the Engage portal.
• Governance Review Implementation Plan: An update on the progress of implementing recommendations from a governance review undertaken by the fund's independent advisor.
• Risk Register: A review of the Pension Fund's risk register, with an opportunity for the Committee to discuss risk score allocations. The updated register aligns with The Pensions Regulator's (TPR)⁶ General Code of Practice (2024).
• Exempt Items: Several items, including exempt minutes, exempt pension fund updates, the exempt actuarial valuation report, and the exempt procurement of actuarial services, are scheduled for discussion and will likely involve the exclusion of the press and public.