The Pensions Board of Shropshire Council met on Friday 23 January 2026 to discuss administration and regulatory updates, as well as receive feedback from the Pensions Committee. The meeting agenda also included an economic update and a governance update, with some items scheduled for exclusion of the press and public.

Administration and Regulatory Updates

The Board was scheduled to receive a report detailing the performance of the pensions administration team, including information on team workloads, ongoing projects such as the valuation 2025 and Pension Dashboards, and regulatory changes. The report also covered work undertaken by the Scheme Advisory Board.

Key recommendations from the report included noting the Key Performance Indicator (KPI) chart and actions being taken to address any KPIs not meeting the 95% target. Board members were also asked to note the progress of the business plan for 2025-26 up to Quarter 3, and the progress of the Pension Dashboard implementation.

The report highlighted that 10 out of 14 KPIs were achieving at least 95% of cases completed within legal timeframes. It also detailed the impact of staff resignations and maternity leave on the KPI for deferred benefits, with recruitment planned to address this. A new process for allocating work within the Membership and Benefits team, based on individual skill sets and capacity, was set to be introduced from February 2026.

Communications statistics showed a consistent response rate of 100% to contact us forms and emails within 10 working days. The report also noted the accuracy rate of Penny the Pensions Bot and the development of a more sophisticated bot by the Council ICT team. The percentage of members registered for 'My Pensions online' showed a steady increase, with targeted communications planned to boost sign-ups.

Employer performance data indicated that most employers were meeting deadlines for contributions and deficit payments. However, challenges were noted with two employers who had changed their payroll providers, impacting data uploads. A guide for employers was being developed to clarify requirements and streamline this process.

Project updates included the completion of all work scheduled for the first three quarters of the 2025/26 business plan. The valuation process was underway, with employers needing to agree and sign off on new rates by 30 January 2026. The Funding Strategy Statement had been reviewed and was undergoing consultation with employers. Progress on the Pension Dashboards implementation was ongoing, with plans to enhance data quality and support member data matching.

The report also included a comparison of Shropshire's administration costs per member and net administration cost per Full-Time Equivalent (FTE) against the average of other LGPS funds, showing Shropshire to have lower costs in both categories.

Regulatory updates from Budget 2025 were also scheduled for discussion, including proposed changes to National Insurance relief for salary sacrifice pension contributions, Stamp Duty Land Tax exemptions for LGPS member funds transferring real estate into approved pools, and changes to inheritance tax rules affecting unused pension funds and death benefits.

Pensions Committee Reports and Feedback

Board members were scheduled to have the opportunity to raise questions following the recent Pensions Committee meeting held on 5 December 2025. The reports considered by the Pensions Committee were made available for reference.

Economic Update

An economic update was scheduled to be presented, providing information on general economic conditions and their impact on pension fund investments.

Governance Update

A governance update was also on the agenda, which was expected to provide information on breaches of LGPS regulations recorded between April and June 2025, as well as other governance issues and updates on the Internal Disputes Resolution Procedure (IDRP). The updated Terms of Reference for the Board were also to be included.

Minutes of Previous Meeting

The minutes of the previous Pensions Board meeting, held on 3 October 2025, were presented for confirmation.

Public Question Time

The Board was scheduled to receive any questions from the public, provided notice was given in accordance with Procedure Rule 14 by the deadline of 12 noon on Monday 19 January 2026.

Date of Next Meeting

The date of the next meeting was to be confirmed.