Decision Maker: West Yorkshire Pension Fund Advisory Panel

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: October 23, 2025

Purpose:

Content:   Resolved –   A.         That the progress on the audit of the 2024/25 annual report and account, current target completion date is 28Nov2025 be noted   B.         That the fund account and net asset forecast for 2025/26 is £21.62 billion be noted.   C.         That the latest WYPF net management expense forecast is £18.98m against a budget of £19.64m, underspend of £0.66m be noted.   D.         That the estimated cost per member of £57.98 for 2025/26 be noted.   E.         That the latest estimated cost of transferring investment services to the Northern Pool FCA entity is £4.23m for 2025/2 and £3.62m for 2026/27 be noted. This cost is in addition to the current budgeted cost of service in C. above.   F.         That the impact on the cost per member of moving to the FCA operating model means that the cost per member could increase to £70.91 for 2025/26 and £70.80 for 2026/26, be noted.   To be actioned by:  The Managing Director, WYPF