Brent Pension Fund's administration performance remains strong, with 98.9% of cases processed on time during the third quarter of the 2025/26 financial year, according to an update presented to the Pension Board.
Overall casework processing times remained robust, with no category falling below the 95% Service Level Agreement (SLA) target. Helpdesk performance also saw an improvement, with an average wait time of just over three minutes and 87.8% of calls answered within three minutes. This represents a significant improvement on the previous quarter.
Data quality continued to improve, with common data accuracy at 96.6% and conditional data at 87.0%. While the overall administration was described as stable, specific areas requiring attention include delays in processing death grants and 1995 scheme deferred pension benefits. Brent Council is working closely with the Local Pensions Partnership Administration (LPPA) to address these anomalies through monthly meetings aimed at monitoring performance and enhancing service delivery. An ongoing initiative, the Efficiency and Service Improvement Programme (ESIP), is designed to leverage investment in UPM to deliver automation and improved self-service capabilities for members.
Beyond administrative efficiency, the Brent Pension Fund has demonstrated positive financial performance. The fund reported positive returns for the second half of the 2025-26 financial year, ending with a valuation of £1.49 billion, up from £1.36 billion in June 2025. Overall, the Fund achieved a return of 9.4% over the half-year, outperforming its benchmark by 0.5%. The results of the 2025 triennial actuarial valuation show a significant improvement in the Fund's funding position, rising from 87% in 2022 to 113% as of 31 March 2025.
The full details of the Pension Administration Update can be found in the Pension Administration Update report. Further information on the fund's performance and valuation is available in the 2025 Triennial Valuation Whole Fund Results and FSS Final and Brent Pension Fund Funding Strategy Statement 2025.
