Investment Performance
Council pension funds are currently addressing recent investment underperformance and decreased funding levels, with several reporting negative returns against benchmarks.
Several council pension funds recently reported underperformance, negative returns, or decreased funding levels. Sutton Pension Fund's value decreased by £25 million and underperformed its benchmark for the quarter ending March 31, 2026, attributed to geopolitical uncertainty by Katherine Gray, Head of Pensions Investments and Treasury, in July 2026. Westminster Pension Fund recorded a negative absolute return of 2.95% for the same period, with its funding level dropping to 126% from 140%.
In contrast, Redbridge Pension Fund outperformed its benchmark over most periods as of December 31, 2025, with total assets reaching £1,181.104 million. Lambeth Pension Fund achieved £367,000 in fee savings in the third quarter of 2025 through its London Collective Investment Vehicle investment, as noted in February 2026. Newham Pension Fund reported an estimated £9 million deficit as of March 31, 2025, with a 99.5% funding level.
Councils regularly review investment performance, which measures the profitability of investments over time, particularly for pension funds. Hackney's Pensions Committee noted updates on investment performance in September 2026, and Harrow's Pension Fund Committee noted the current funding position in September 2026.
Key facts
- Sutton Pension Fund's value decreased by £25 million for the quarter ending March 31, 2026. Source
- Westminster Pension Fund recorded 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
- Lambeth Pension Fund returned 2.1% for the quarter ending December 31, 2025, against a 3.0% benchmark. Source
- Redbridge Pension Fund's total assets reached £1,181.104 million as of December 31, 2025. 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.