NYPF 2023/2026 Business Plan Update November 2023                                                                                                   Appendix 3

RAG rating:

Green – completed or not yet due

Orange – ongoing, carried forward to 2024/25

Red – outstanding, overdue

Key Activity			Resource
Administration			Head of Pensions Administration
Action	Timescale	Progress Update
McCloud remedy	Q3 2023/24	In progress – data being checked and updated to records. Missing data being gathered. Project plan created and next steps identified.
Data quality improvement	Q4 2023/24	In progress – data cleanse ongoing, records being corrected from issues identified by annual data scoring exercise
Backlogs	Q2 2023/24	Completed – backlogs reduced to 4 weeks. Continued review and monitoring is in place to maintain position.
Key Activity			Resource
Business Improvement			Head of Pensions Administration
Action	Timescale	Progress Update
Complete roll out of employer portal	Q4 2023/24	In progress – roll out was paused for year-end processing but work has recommenced and additional resource has been added to the project team to increase speed of onboarding.
Complete website redevelopment	Q4 2023/24	In progress – user testing completed. Feedback being worked through, on target for go live 1 December 2023.
Key Activity			Resource
Governance			Head of Pensions Administration/Head of Investments
Action	Timescale	Progress Update
SAB Good governance project	Q4 2023/24	Unable to progress – still waiting for DLUHC’s response to SAB’s action plan.
TPR Single Code of Practice	Q4 2023/24	Unable to progress – still waiting for new code to be issued.
Key Activity			Resource
Funding			Pension Fund Committee/ Treasurer/ Head of Investments
Action	Timescale	Progress Update
Income monitoring	Q4 2023/24	In progress – preliminary discussions held with another Fund using the functionality. Business proposal prepared and submitted to T&C.
Key Activity			Resource
Investment			Pension Fund Committee/ Treasurer/ Head of Investments
Action	Timescale	Progress Update
Responsible Investment	Q4 2023/24	TCFD reporting on hold, pending the publication of guidance by the Government. Delay of at least a year expected. In progress – on track to apply for signatory status to new Stewardship Code by the end of the current financial year.
Pooling and implementation of investment strategy	Q4 2023/24	In progress – workshops planned Q1 24/25 for UK opportunities, Climate opportunities and UK property as part of due diligence work before recommendations on commitments will be put to the Committee. Review of allocation ongoing.