Economic Uncertainty
Councils are addressing the impact of economic uncertainty on pension fund performance and financial strategies.
The Westminster Pension Fund reported a negative absolute return of 2.95% for the quarter ending March 31, 2026, with its estimated funding level decreasing to 126% from 140% the previous year. This reduction was attributed to a decrease in the funding discount rate from 5.3% to 4.9% within the actuarial model, which Hymans Robertson confirmed reflects revisions to their economic outlook.
Councils are also reviewing their financial positions. The Mayor and Cabinet of Lewisham Council discussed financial strategy in July 2026. In the same month, the Alexandra Park and Palace Board in Haringey had on its agenda a review of the Trustees' Annual Report and Financial Statements for 2025-2026, reflecting ongoing attention to financial performance amidst economic unpredictability.
Key facts
- Westminster Pension Fund reported a negative absolute return of 2.95% for the quarter ending March 31, 2026. Source
- Westminster Pension Fund's estimated funding level decreased to 126% as of March 31, 2026. Source
- The funding discount rate for Westminster Pension Fund decreased from 5.3% to 4.9%. Source
- Hymans Robertson confirmed the change in funding discount rate reflects revisions to their economic outlook. 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 30 September 2026. Spotted a mistake? Email community@opencouncil.network.