Westminster Pension Fund
Westminster Pension Fund is currently discussing investment performance, risk management, and employer contribution rates.
The Westminster Pension Fund's Pension Board discussed climate change as a significant risk in July 2026, with members urging its explicit inclusion in the fund's risk register. This followed a report in July 2026 that the fund recorded a negative absolute return of 2.95% for the quarter ending March 31, 2026, falling short of its benchmark.
The fund's estimated funding level decreased to 126% as of March 31, 2026, from 140% the previous year, primarily due to a change in the funding discount rate. In March 2026, Councillor Barbara Arzymanow questioned a proposed reduction in employer contribution rates, set to average 20.5% of pay from April 2026 to March 2029, despite an improved funding level of 140% reported at that time.
The Westminster Pension Fund, which is managed by Westminster City Council for employers and employees in Westminster, had also underperformed its benchmark over the past year and three years, according to a report presented to the Pension Board in March 2026.
Key facts
- The Westminster Pension Fund recorded a negative absolute return of 2.95% for the quarter ending March 31, 2026. Source
- The fund's estimated funding level decreased to 126% as of March 31, 2026. Source
- The Pension Board discussed climate change as a significant risk on July 9, 2026. Source
- Employer contribution rates are set to average 20.5% of pay for April 1, 2026, to March 31, 2029. Source
- The fund achieved a positive absolute return of 1.57% net of fees for the quarter ending 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.