The Local Pension Board of Havering Council met on Tuesday 13 October 2026 to discuss updates on pensions administration, the draft investment strategy statement, and reviews of fund breaches, complaints, and communication plans.

Pensions Administration Update

The meeting was scheduled to receive an update on pensions administration for the fourth quarter of 2025-26 and the first quarter of 2026-27. Reports detailing the performance of the Local Pensions Partnership Administration (LPPA) against agreed service levels were provided. These reports covered key performance indicators such as the processing of priority cases like retirements and deaths, contact centre performance, and data quality measures. The reports also highlighted member satisfaction survey results, which remained disappointing for retirement surveys, and detailed the number of complaints received and resolved. The administration update also included information on the progress of LPPA projects, including the McCloud remedy and the development of the Pensions Dashboard.

Draft Investment Strategy Statement Update

A review of the draft Investment Strategy Statement (ISS) was scheduled, focusing on consultation and updates in line with the Local Government Pension Scheme (Pooling, Management and Investment of Funds) Regulations 2026. The report detailed the statutory requirements for an ISS, including high-level financial objectives, approach to risk management, responsible investment policies, and strategic asset allocation. The proposed ISS outlined four key investment objectives: a return objective of at least 5.5% per annum, a risk objective to maintain a funding level above 100% with at least a 75% likelihood over a 20-year horizon, a cashflow objective, and a local investment objective to invest up to 10% of funds in local assets. The strategic asset allocation included targets for listed equity, private equity, private credit, property, infrastructure, other alternatives, credit, and UK government bonds. The report also detailed the Fund's approach to responsible investment, including environmental, social, and governance (ESG) factors, and its collaboration with London CIV.

Havering Pension Fund Breaches, Complaints and IDRPs Review

The meeting was set to review breaches, complaints, and Internal Dispute Resolution Procedure (IDRP) cases for the Havering Pension Fund during the 2025/26 period. A policy for reporting breaches of the law, effective from April 1, 2025, was noted, which requires recording all breaches, even immaterial ones. During 2025/26, three minor breaches were reported by LPPA, none of which were deemed material as they did not indicate a systemic issue and affected only one member on each occasion. A total of 25 formal complaints were received by LPPA concerning Havering Fund members, with 23 relating to payment delays and two due to poor or inaccurate communication. Five cases proceeded to Stage 1 IDRP, with four concerning delayed benefit payments and one relating to an incorrect increase applied to an Additional Regular Contribution (ARC) Contract.

Havering Pension Fund Communication Plans Review

The meeting was scheduled to review the 2025/26 communications plan for members and employers and present the current position against the 2026/27 plans. These plans aim to meet the criteria of the Communications Policy for the London Borough of Havering Pension Fund, which was agreed in November 2024 and is due for review in November 2027. The plans detail key communications with stakeholders, including the method and frequency of communication, with a focus on using appropriate mediums for different audiences, educating stakeholders on LGPS benefits, and improving member service. Appendices provided the end-of-year position for the 2025/26 plans and the progress made on the 2026/27 plans for both members and employers.