The Northamptonshire Pension Fund Committee is scheduled to convene on Monday 16 March 2026. The meeting's agenda includes a review of the Fund's governance, compliance, and administrative performance, alongside discussions on its strategic plans and financial outlook for the coming years. Key topics for consideration include the annual business plan, data improvement strategies, and the Fund's climate action plan.

Governance and Compliance Report

The committee is set to receive an update on the governance and compliance of the Northamptonshire Pension Fund. This report, led by Michelle Oakensen, Governance and Regulations Manager, will cover significant current issues impacting the Fund's management and administration. Topics scheduled for discussion include updates on the Local Government Pension Scheme (LGPS) in England and Wales, developments regarding Pension Dashboards, the role of the Scheme Advisory Board, and information from The Pensions Ombudsman and The Pensions Regulator. The report will also address committee representation and skills and knowledge opportunities for members. Immaterial amendments to policies and strategies resulting from officer reviews are also detailed.

Northamptonshire Pension Fund - Business Plan and Medium-Term Strategy 2026/27

Mark Whitby, Head of Pensions, will present the Northamptonshire Pension Fund's Business Plan and Medium-Term Strategy for 2026/27 to 2028/29. This report will update the committee on the year-end status of the 2025/26 Business Plan activities and any procurements undertaken during that year. The committee will be asked to approve the proposed Business Plan and Medium-Term Strategy for the upcoming three years, including associated budget requirements. The plan outlines key activities beyond day-to-day operations, focusing on areas such as procurement, core governance, member and data projects, investment activities, and communications. Priority areas for the year include Pension Dashboards, McCloud remedy rectification, compliance with the General Code of Practice, and changes arising from government consultations on LGPS improvements. The report also includes the 2026/27 Climate Action Plan.

General Code of Practice Review

Madalina Bratec, Governance Specialist, will present an update on the Northamptonshire Pension Fund's compliance with the Pension Regulator's (TPR) General Code of Practice. This code sets out TPR's expectations for the governance and administration of pension schemes, covering areas such as the governing body, funding and investment, administration, communication and disclosure, and reporting to TPR. The report indicates that the Fund is largely compliant, with a few areas identified as partially met or not met, and an action plan is in place to address these. The next steps involve creating a compliance log to regularly test performance against the Code's requirements.

Data Improvement Policy and Plan

The committee will review the revised Data Improvement Strategy and Data Improvement Plan for 2026/27, presented by Mohammed Mansha, Systems & Projects Manager. The strategy outlines how the Fund obtains, manages, and maintains good quality data, including cyclical reviews and internal controls. The annual plan details specific areas of focus for the forthcoming year, such as improving common data and ensuring readiness for Pension Dashboards. Updates to the strategy reflect legislative changes, stakeholder adjustments, and new contractual arrangements for mortality screening and external tracing services. The plan focuses on improving common data and data for specific exercises like annual statement production and Pension Dashboard readiness, including the ongoing clearance of unprocessed leaver records.

Review of the Communication Strategy and Plan

Sharon Grimshaw, Communications Officer, will present a review of the communications strategy and the proposed communications plan for 2026/27. The communications strategy, previously approved in March 2025 and reviewed in January 2026 with no further changes recommended, sets out the Fund's policy on communicating with scheme members, representatives, and prospective members. The 2026/27 plan details monthly communication activities across various stakeholder groups, highlighting key initiatives such as the Pensions Dashboard and the enhanced member self-service portal, alongside campaigns like Pensions Awareness Week and National Pension Tracing Day. Statutory communications, such as annual pension statements and pensioner newsletters, are also included.

Administration Report

Mark Whitby, Head of Pensions, will present the Administration Report for the period 1 October to 31 December 2025. This report will update the committee on administrative performance, including Key Performance Indicators (KPIs) and contribution monitoring. It will also detail updates to the Fund's Risk Register and information on employer admissions and cessations. The report indicates that while a majority of KPIs showed improvement, overall performance levels were less than desired, with 28% of KPIs rated as Red. However, 100% of employer contributions were received on time. The report also notes the cessation of Easy Clean Contractors Limited from the Fund and outlines proposed changes to the risk register, including new and updated mitigations.

Northamptonshire Pension Fund Committee Forward Agenda Plan

The committee will review the Northamptonshire Pension Fund Committee Forward Agenda Plan, presented by Michelle Oakensen, Governance Specialist. This document outlines the planned agenda items for future meetings of the Pensions Fund Committee and the Investment Sub Committee. It details topics such as stewardship and engagement updates, quarterly performance reports, manager presentations, annual business plans, governance and compliance reports, and various policy reviews and approvals. The plan covers scheduled meetings from March 2026 through to July 2026.

Valuation Update (Exempt)

The committee is scheduled to receive a valuation update, which is marked as exempt. This indicates that the report contains information that is likely to be considered confidential and will be discussed in a private session of the meeting.

Investment Pool Update Report (Exempt)

An update on the Investment Pool is also scheduled, marked as exempt. This suggests that the details of this report will be discussed in private, likely due to commercially sensitive or confidential information.

Strategic Asset Allocation Update (Exempt)

A strategic asset allocation update is on the agenda, also marked as exempt. This implies that the discussion will involve sensitive investment strategy details that will be considered in a private session.