Fit for the Future
Councils are implementing pension reforms to boost UK growth, enhance pooled investment oversight, and introduce new governance roles.
Kingston upon Thames Pension Fund Panel discussed in September 2026 how LGPS reforms, part of the Fit for the Future initiative, aim to boost UK economic growth, improve saver outcomes, and tackle inefficiencies. Barnet Pension Fund Committee resolved in September 2026 to authorise officers to develop an oversight governance framework for the London Collective Investment Vehicle (LCIV). Newham's Pension Fund Committee discussed in July 2026 the Pension Scheme Act 2026, which will introduce mandatory appointments of a Senior LGPS Officer and an Independent Person.
Sutton Pension Board decided in March 2026 that London CIV would assume asset management for the Sutton Pension Fund, with the Investment Management Agreement (IMA) expected to be signed by the end of March 2026. Hackney Council's Pensions Committee approved in January 2026 the Fit for the Future update for the Local Government Pension Scheme (LGPS), committing to modernising the scheme for long-term sustainability. Croydon Council's Pension Fund is set to transfer its assets under pool management by March 2026, via the London CIV.
The Fit for the Future initiative involves reforms to the Local Government Pension Scheme (LGPS) in England and Wales, aiming for long-term sustainability, efficiency, and improved governance. These reforms include legislative changes, such as the Pension Scheme Act 2026, and requirements for asset pooling through Collective Investment Vehicles.
Key facts
- Barnet Pension Fund Committee resolved in September 2026 to authorise officers to develop an oversight governance framework for the London Collective Investment Vehicle (LCIV). Source
- The Pension Scheme Act 2026 will introduce mandatory appointments of a Senior LGPS Officer and an Independent Person for Newham's Pension Fund. Source
- London CIV is set to assume asset management for the Sutton Pension Fund, with the Investment Management Agreement (IMA) 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, via the London CIV. Source
- The government expressed support for maintaining only six out of eight LGPS investment pools, with Access and Brunel pools not meeting the 'Fit for the Future' vision. 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.