The Local Pension Board of Wandsworth Council is scheduled to convene on Wednesday, 4 November 2026, to review updates on the Joint Pensions Committee, discuss pensions administration, and consider the review of the Communications Policy. The meeting will also cover governance and investment matters, as well as risk management for the Pension Fund.

Update from the Joint Pensions Committee

The Board is scheduled to receive an update from the Joint Pensions Committee (JPC). This report, prepared by the Chief Executive, Ana Popovici, will outline the agenda items considered by the JPC at its meeting on 16 September 2026. The JPC's agendas and minutes are available online, and Board members are notified when these documents are published. The Board is asked to review these items and pass any comments or concerns to the JPC's next meeting. The report lists several matters considered by the JPC on 10 March 2026, including the Pension Fund External Audit Report 2025/26, an update to Responsible Investment, the Pension Fund Annual Report 2025/25, general matters, the Local Investment Strategy, and quarterly investment performance for the first quarter of 2026/27.

Pensions Administration Update

A report from the Director of Financial Services, Paul Guilliotti, will provide an update on pensions administration. This includes progress on the Pensions Shared Service (PSS) Work Plan, updates on key work areas, and specific projects. The report will also cover the Independent Dispute Resolution Procedure (IDRP), the performance of the PSS, its adherence to the Pensions Regulator's General Code of Practice, and the breaches register. The PSS has reported zero breaches since the last Board meeting. The report highlights ongoing work on pension dashboards, the Altair Pensioner Payroll Implementation, a website redesign and automation project, and the Access and Fairness Remedy. Performance indicators for the period 1 April 2026 to 30 September 2026 show strong overall performance, with most indicators meeting or exceeding targets, although transfer-related activity remains below target in some areas. Customer satisfaction remains high, and the number of complaints is low. The report also details employer performance for the first quarter of 2026-27, noting that 42% of employers submitted data with zero errors.

Review of the Communications Policy

The Board is scheduled to consider a review of the Communications Policy Statement for the Wandsworth Pension Fund. This report, from the Assistant Director of Resources (Financial Services), Paul Guilliotti, aims to ensure the policy remains compliant with current legislative requirements and reflects evolving best practice. The review has taken into account the Government's Fit for the Future guidance, which emphasises the effectiveness, accessibility, and quality of engagement with scheme members and employers. The proposed revisions aim to demonstrate a proactive and member-focused approach to communication, engagement, and accessibility. The policy outlines principles such as clarity, accuracy, and accessibility, and details strategic communication objectives, including supporting members in planning for retirement and increasing registrations to the Member Self Service portal.

Governance and Investment Update

An update on governance and investment matters will be presented by the Director of Financial Services, Paul Guilliotti. This report focuses on the implementation of the government's Fit for the Future agenda, particularly the timeline for implementing and reviewing the Responsible Investment policy. The Fund has signed an Investment Management Agreement (IMA) with the London Collective Investment Vehicle (LCIV), giving the LCIV control of all Fund investment assets. The LCIV has reviewed the Fund's investments and agreed an implementation plan, focusing on non-cash assets and working towards a rationalisation of property investments. The LCIV also monitors individual manager performance and has a reserve list of managers to address underperforming ones. The report also details the implementation of governance changes stemming from new regulations, including the appointment of a Senior Responsible Officer and the process for appointing an Independent Person. A survey of fund members and employers regarding responsible investment has been undertaken, with results expected to inform the revised Investment Strategy Statement and RI policy.

Risk Management

The Board will review the revised risk register for the Pension Fund, as presented by the Director of Financial Services, Paul Guilliotti. The register is a live document, subject to regular review, and identifies core risks, their likelihood, impact, and control measures. The report notes that the Fit for the Future changes are progressing, with the London CIV now managing the Fund's non-cash investment assets. Significant changes to the risk register since the last meeting include updates on Investment Performance, the Transition of Payroll, and the Fit for the Future Transition. The report also highlights areas where the Fit for the Future changes remain unclear. The core objective of the Fund is to pay pension benefits as set out in the LGPS regulations, and the risks associated with achieving this objective, including governance, administration, and investment processes, are covered in the register.

The meeting is scheduled to take place online via Microsoft Teams. A live webcast will be available.