NYPF 2025/26 Business Plan Update                                                                                                                                        Appendix 1

RAG rating:

Green – completed or not yet due

Orange – ongoing, carried forward to 2026/27

Red – outstanding, overdue

Key Activity			Resource
Administration			Head of Pensions Administration
Action	Timescale	Progress Update
McCloud remedy	Q4 2025/26	In progress – Recalculation of benefits for affected members ongoing and members now being paid amended benefits.
Targeted nomination form communications	Q3 & Q4 2025/26	Not yet started – lack of resource has meant this activity has not yet been started. Due to other demands this activity has been shelved until a later date.
Key Activity			Resource
Business Improvement			Head of Pensions Administration
Action	Timescale	Progress Update
Improve self-service functionality	Q4 2025/26	Completed – new member portal live 15 January. Enhanced self-service functionality will now be scoped and developed.
Key Activity			Resource
Governance			Head of Pensions Administration/Head of Investments
Action	Timescale	Progress Update
LGPS Fit for the future	Q4 2025/26 Q1 & Q2 2026/27	Not yet started – Regulations and guidance expected early 2026/27. Activity carried over to the new business plan for completion in 2026/27.
Key Activity			Resource
Investment			Pension Fund Committee/ Treasurer/ Head of Investments
Action	Timescale	Progress Update
Responsible Investment	Q4 2024/25	TCFD reporting on hold, pending the publication of guidance by the Government. Awaiting publication of the requirements for the new Stewardship Code, due in 2026.
Pooling and implementation of investment strategy	Q1 2025/26 Q1 & Q2 2025/26 Q2 2025/26	Investment commenced in Border to Coast’s UK Property fund in Q2. Committee workshop to review Global Alpha in Q3. Committee workshop on Global Sustainable Bonds in Q4 (due for launch Q2 2026). Committee workshop on currency hedging in Q4. Detailed annual review of 3-4 of Border to Coast’s funds each quarter.
Automation of reporting	Q4 2024/25	This was to be reviewed in 2025/26 once the new custodian contract has commenced.  However, custodian arrangements across all Border to Coast funds are under review as part of developments to meet anticipated legislation and statutory guidance.  In addition, a new finance system will be implemented by the Council, expected to be live from April 2026.

Key Activity		Resource
Funding		Head of Investments/Head of Pensions Administration
Action	Timescale	Progress Update
2025 Valuation	Q1 2025/26 Q2 2025/26 Q3 2025/26	Completed – agree assumptions and approach Completed – provide membership, employer & cashflow data Completed – respond to actuarial queries Completed – organise valuation sessions for PFC and employers Completed – distribute results to employers
Funding Strategy Statement	Q2 2025/26	Completed – funding strategy statement consultation completed and now published on our website