"Fit for the Future" reforms
Councils are implementing 'Fit for the Future' reforms for Local Government Pension Scheme assets, focusing on pooling and redefined responsibilities.
Hackney Pension Fund is undergoing "Fit for the Future" reforms, which came into force on 30 June 2026, mandating that all Local Government Pension Scheme (LGPS) assets be managed through FCA-regulated pooling companies, as reported in July 2026. London CIV, the investment pool for London boroughs and Buckinghamshire, will now oversee the implementation of investment strategies, while Hackney Pension Fund retains responsibility for setting its Investment Strategy.
The reforms have redefined roles and responsibilities between partner funds and pooling companies, with London CIV managing day-to-day investment implementation for Hackney. Harrow Council's Pension Board discussed Local Government Pension Scheme administration in July 2026, and Croydon Council's Pension Committee received an update on its relationship with London CIV and governance arrangements in June 2026.
No upcoming meetings are currently scheduled to discuss the "Fit for the Future" reforms. These reforms, introduced by new statutory guidance, aim to improve the governance, management, and investment of Local Government Pension Scheme (LGPS) funds in England and Wales, focusing on structure, operation, and investment pooling.
Key facts
- Kingston's Pension Fund net assets reached £1.41 billion in the 2025-26 financial year. Source
- Hackney Pension Fund is undergoing "Fit for the Future" reforms. Source
- The "Fit for the Future" reforms came into force on 30 June 2026. Source
- The reforms mandate all LGPS assets be managed through FCA-regulated pooling companies. Source
- London CIV will oversee Hackney Pension Fund's investment strategies. 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.