The Enfield Pension Fund is demonstrating strong adherence to regulatory standards, with a self-assessment revealing 95% compliance with the Pension Regulator's (TPR) code of practice. This was revealed at the Local Pension Board meeting on 3 July 2025.
The TPR's code of practice is designed to ensure compliance with statutory obligations. The self-assessment serves as a foundation for ensuring that the Fund's governance practices meet the highest standards and align with these obligations.
Ravi Lakhani, Head of Pension Investments, presented the findings of the self-assessment, which evaluated the fund's governance practices against the TPR's code. The TPR Self Assessment 2025 compares the current rating with the previous rating dated 00 January 1900.
Fund officers reported that the self-assessment indicates the fund is in a strong position. The TPR Self Assessment 2025 showed that the fund has fully met 95% of requirements. The remaining 5% were either partially met (4%) or not completed (0.7%). These related to:
- The Governing Body: Knowledge & Understanding
- Reporting to TPR: Regular Reports
- The Governing Body: Board Structure and Activities
The process for addressing the 'partially met' requirements involves identifying steps required to turn partially compliant requirements into fully compliant, assigning owners to each action, creating a plan with key milestones and timescales, deciding on actions to ensure compliant strands remain compliant, and deciding on the frequency of review of the plan. The specific timeline for achieving full compliance in those areas is not provided in the document.
The only requirement that had a non-completed rating related to a skills and experience audit of the board and PPIC to identify gaps and imbalances. This will be addressed later in the calendar year when members of the board and PPIC have completed their online training and self-assessment, and results of gaps in knowledge and understanding will be reported back to officers.
The specific online training being undertaken by the board and PPIC members is not detailed in the provided text, but it is mentioned that the training includes a self-assessment to identify gaps in knowledge and understanding.
The Local Pension Board noted the report.