The Havering Pension Fund has exceeded its performance target, reporting a performance of 5% for the quarter ending 30 September 2025. This was discussed at the Havering Local Pension Board meeting on 16 December 2025, according to the Public Reports Pack.

The positive performance was noted at the 9 December Pensions Committee meeting, according to feedback given to the board. The increase is attributed to the fund's allocation to growth assets, with equities continuing to gain due to easing trade tensions, momentum in the AI space, and supportive central bank rate cuts. The 2025 Q3 Performance Monitoring report noted that the 5% quarterly performance was largely due to these factors.

At the 9 December meeting, the Committee also noted the whole fund results, including the proposed assumptions and the prudence levels which will be set at 85% (up from 80% in 2022) and the resulting discount rate of 5.5% (up from 3.5% in 2022).

Other key figures for the whole fund include:

  • Funding Level: 101% (up from 80% in 2022).
  • Surplus: £13m (previously £229m deficit).
  • Assets: £1,008m (up from £920m).
  • Liabilities: £995m (down from £1,149m).
  • Required return to remain 100% funded: 5.5% p.a. (was 4.8%).
  • Likelihood of achieving required return: 88% (up from 66%).