Issue

Investment Strategy

4 stories · discussed at 7 council meetings · 9 councils

Councils are adapting their pension fund investment strategies to new 'Fit for the Future' regulations, focusing on asset pooling and governance.

Sutton's pension fund assets are now fully managed by the London Collective Investment Vehicle (LCIV) following "Fit for the Future" regulations, which came into force in June 2026. These reforms mandate asset pooling and require councils like Harrow to appoint an Independent Person and a senior LGPS officer by December 2026.

Harrow Council must produce an investment strategy, including local investment preferences, by March 2027, as part of the "Fit for the Future" reforms. Meanwhile, Kingston's Pension Fund assets reached £1.51 billion in June 2026, despite a dip in its funding level, which Katherine Gray, Head of Pensions Investments and Treasury, attributed to inflation.

Westminster Council's Pension Fund Committee decided in July 2026 to shift its strategic asset allocation, reducing global equities and establishing an allocation to UK Index-Linked Gilts. The "Fit for the Future" reforms, which became law in April 2026, aim to enhance governance and encourage local investments within the Local Government Pension Scheme.

Key facts

  1. Kingston Pension Fund's net assets reached £1.51 billion as of June 30, 2026. Source
  2. Harrow Council must produce an investment strategy by March 31, 2027. Source
  3. Harrow Council must appoint an Independent Person and an LGPS senior officer by December 31, 2026. Source
  4. Sutton's pension fund assets are 100% managed by the London Collective Investment Vehicle (LCIV) as of July 2026. Source
  5. The "Fit for the Future" regulations came into force on June 30, 2026. Source 1 Source 2
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 15 October 2026. Spotted a mistake? Email community@opencouncil.network.

Latest stories

  1. Kingston Pension Fund Assets Reach £1.51bn Despite Funding Level Dip Kingston Pension Fund Assets Rise to £1.51bn Amidst Funding Level Dip Kingston upon Thames 15 October 2026
  2. Harrow Council Pension Board Discusses LGPS Reforms and Independent Person Appointment Harrow Council's Pension Board convened on Thursday, July 30, 2026, to discuss significant reforms impacting the Local Government Pension Scheme (LGPS) and to appoint an... Harrow 1 August 2026
  3. Sutton's Pension Fund Assets Fully Managed by LCIV Following 'Fit for the Future' Regulations Sutton's Pension Fund assets are now entirely managed by the London Collective Investment Vehicle (LCIV), a significant development following the implementation of Fit for the... Sutton 18 July 2026
  4. Newham Pension Fund Faces £9M Deficit Despite £2B+ Valuation Despite a valuation exceeding £2 billion, the Newham Pension Fund is grappling with an estimated £9 million deficit, according to reports presented at a Pensions Committee... Newham 14 December 2025