Fit for the Future
Councils are currently implementing 'Fit for the Future' reforms, focusing on new governance requirements and strengthening oversight of pooled pension investments.
Councils are currently addressing 'Fit for the Future' reforms, which aim to reshape the governance and investment landscape of the Local Government Pension Scheme (LGPS). In October 2026, Tower Hamlets Pensions Committee discussed these reforms. Barnet Pension Fund Committee resolved in September 2026 to develop an oversight governance framework for the London Collective Investment Vehicle (LCIV) to strengthen scrutiny of pooled investment arrangements. Newham's Pension Committee discussed in July 2026 the mandatory appointment of a Senior LGPS Officer and an Independent Person under the Pension Scheme Act 2026.
The reforms also focus on asset pooling and investment management. Kingston upon Thames Pension Fund Panel discussed in September 2026 how these reforms aim to improve saver outcomes and boost UK economic growth through asset pooling and a greater focus on local investment. Sutton Pension Board decided in March 2026 that London CIV would assume asset management for the Sutton Pension Fund, with the Investment Management Agreement on track to be signed by the end of March 2026. Croydon Council's Pension Fund is set to transfer its assets under pool management by 31 March 2026, as discussed by its Pension Committee in December 2025.
The 'Fit for the Future' initiative encompasses legislative and regulatory changes affecting the LGPS, including requirements for appointing senior officers, independent persons, and preparing governance and training strategies. These reforms aim to ensure the long-term sustainability and efficiency of pension funds, often through pooling assets into Collective Investment Vehicles. No upcoming meetings discussing this topic have been supplied.
Key facts
- Barnet Pension Fund Committee resolved to authorise officers to develop an oversight governance framework for the London Collective Investment Vehicle in September 2026. Source
- Kingston upon Thames Pension Fund Panel discussed reforms aiming to improve saver outcomes and boost UK economic growth in September 2026. Source
- Newham's Pension Committee discussed the mandatory appointment of a Senior LGPS Officer and an Independent Person in July 2026. Source
- London CIV is set to assume asset management for the Sutton Pension Fund, with the Investment Management Agreement on track to be signed by the end of March 2026. Source
- Croydon Council's Pension Fund is set to transfer its assets under pool management by 31 March 2026. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 2 October 2026. Spotted a mistake? Email community@opencouncil.network.