Redbridge Council's Pension Scheme has demonstrated improved performance in calculating deferred pension benefits and has outperformed its benchmark in the latest quarter, according to a recent update presented at the Local Pension Board meeting on 2 October 2025.
The report, which covered pension fund matters as of 30 June 2025, highlighted a significant rise in the calculation of deferred pension benefits, with performance increasing from 32% to 78%. This achievement is especially commendable given the additional pressures faced by the team, including onboarding and training new staff members. This improvement contributes to the overall health and administration of the Redbridge Pension Fund, valued at £1,094.180 million as of the same date.
The Pension Fund's investments saw a return of 4.04% for the quarter ending June 30, 2025, outperforming the benchmark return of 3.31%. While the fund has outperformed its benchmark over the quarter and 3 years, it has under-performed over 1 and 5 years. Northern Trust and the Fund Managers provide performance management information regarding the underperformance.
The Pension Fund Committee, in consultation with the Fund's Investment Advisers, has implemented a long-term strategy with the objective of achieving a level of return that is required in order that the Pension Fund meets its liabilities. The report included tables and charts illustrating the fund's performance, asset allocation, and strategic asset allocation.
The Local Pension Board's remit includes mitigating risk to the scheme by assisting the Council, as the Administrating Authority, to ensure the effective and efficient governance and administration of the Local Government Pension Scheme (LGPS). This is achieved by considering matters of scheme administration and governance, monitoring possible implications, and advising where relevant.
The fund's investment managers include a range of firms such as Schroders, LCIV, Baillie Gifford, and Legal & General.
The Public reports pack provides further details on the fund's performance, asset allocation, and strategic asset allocation.
