Sutton Pension Fund has approved a budget of £6.7 million for the upcoming financial year, an increase from the previous year's £6.4 million. The Pension Board met on Thursday, 19 March 2026, to discuss and endorse the fund's budget for 2026-2027, as detailed in the Business Plan 2026-29 and Budget 2026-27.
The budget increase is primarily attributed to higher corporate costs, which include the council's expenses related to the pension fund, such as IT and HR support services. These costs are now being passed on to the pension fund based on staff numbers, reflecting a more equitable distribution. This is calculated by comparing the number of staff working on the pension fund to the total number of staff at Sutton Council.
Fund management fees remain the largest expenditure, with an allowance for a 10% increase due to anticipated asset growth. The market value of the pension fund's assets was £1.091 billion for the quarter ending December 2025, according to Appendix A - London Borough of Sutton Pension Fund Q4 2025. A projected value for the next financial year was not provided in the meeting information.
The Pension Board also reviewed various performance updates, including Pension Administration Performance Update and Governance and Risk Update.
Other documents discussed at the meeting included the Agenda frontsheet 19th-Mar-2026 10.00 Pension Board and Declarations of interest.