funding level
Hackney Pension Fund's funding level reached 140% in September 2026, as other councils address impacts of discount rate changes and investment returns.
Hackney Pension Fund's estimated funding level reached 140% in September 2026, with assets growing to £2.48 billion and a surplus of £0.71 billion, according to an actuarial and funding update reviewed by the Pensions Committee. This follows a 138% funding level reported in July 2026, attributed to positive asset performance and decreasing liabilities. Newham Pension Fund also reported a 103% funding level and a £60 million surplus in March 2026.
In contrast, Harrow Pension Fund's funding level dropped to 100% in March 2026 from 108% in March 2025, primarily due to a decrease in the discount rate, as reviewed by the Pension Board in July 2026. Westminster Pension Fund's estimated funding level also decreased to 126% in March 2026 from 140% the previous year, attributed to a reduction in the funding discount rate within the actuarial model.
Investment performance continues to be a focus for pension funds, which measure their ability to meet future pension obligations. Kingston upon Thames Pension Fund's returns lagged benchmarks over three and five-year periods despite a strong quarterly performance reported in September 2026. Sutton Pension Fund also underperformed its benchmark in the quarter ending March 2026.
Key facts
- Hackney Pension Fund's estimated funding level stood at 140% as of June 30, 2026. Source 1 Source 2
- Hackney Pension Fund reported a surplus of £0.71 billion as of June 30, 2026. Source 1 Source 2
- Kingston upon Thames Pension Fund's market value increased to £1.51 billion in the quarter ending June 30, 2026. Source
- Harrow Pension Fund's funding level fell to 100% as of March 31, 2026. Source
- Westminster Pension Fund's estimated funding level decreased to 126% as of March 31, 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 30 September 2026. Spotted a mistake? Email community@opencouncil.network.