Datesforyour diaries...
August AnnualBenefitStatementstobe circulated
15-19September PensionAwarenessWeek
27November
2025EmployerForumsavethedate!
Our vision is to deliver an outstanding service to our scheme employers and members
Employer Forum OurEmployerForumisback on27November2025!
Welookforwardtoengaging withouremployerswitha focusontheTriennial Valuation. You’llalsohavethe opportunitytodiscussyour initialemployercontribution rateswithboththeactuaries andtheFund.
2024EmployerFeedback: ⭐ Rated45/5overall!
⭐ 100%agreedthat attendingtheforumwill benefittheirrole ⭐ 8/10foundthecontent engaging
DEAREMPLOYERS, Welcometotheemployernewsletter!
Overrecentweekswehavecontinued workingtoassessouroptionsforwherewe willpoolourinvestmentsgoingforward, followingtheletterwereceivedinAprilfrom centralGovernment,whichinformedusthat theBrunelpool(ofwhichweareaclientand shareholder)didnotmeettheirvisionforthe futureoftheLGPS,andinvitingfundstofinda newpooltopartnerwith.
Thishasinvolvedalotoftravellingaround theUK,aswemadesitevisitstopoolswho arebasedinLeeds,Wolverhamptonand London,aswellasmeetingwithGovernment officialstoupdatethemonourprogress This isabigdecisionfortheFund,andweare workingtoensurewegetthebestoutcome thatwecanduringthisprocess.Aspartof ourassessment,weareprioritisingculture andfit,sothatwecanbepartofa partnershipwherewecancollaboratehelp drivethingsforwardintothefuture.
TheGovernmenthaslaunchedtheaccess andfairnessconsultation,whichaddresses proposedchangestoimprovefairnessand accesstotheLGPS Thisiscoveredinmore detaillaterinthisnewsletter,andaswellas respondingourselves,weareencouraging ourmembersandemployerstogetinvolved andconsidersubmittingtheirownresponses too.Thisconsultationisafirststeptowards creatingafairerretirementforall.
Wearestillonthelookoutfortwoemployer repsforourpensionfundCommittee,asI'm pleasedtosaythatwehavenowfilledthelocal pensionboardvacancy.Thisisagreat opportunitytogetinvolvedwithstrategic mattersrelatingtorunningofthepensionfund TheCommitteearecurrentlylookingattopics suchastheactuarialvaluation,settingthe investmentstrategy,climatescenario modelling,andtheveryimportantdecision regardingwhichpoolshouldlookafterour £3.5bninvestmentportfoliosgoingforward. Theyalsolookatperformanceacrossthewhole fund,includinginvestmentperformanceand metricsonthequalityofserviceweare providedthemembers.
Finally,Iwouldliketosaythankyoutoall employerswhoengagedwithourrecent consultationonournewadminstrategy.We anticipatethisbeingapprovedshortlybythe Committee,andwewillbeintouchaboutthis induecourse.
Jennifer Devine HeadofWiltshirePensionFund
InvestmentInsights AsoftheendofMay2025,thefundvaluewas£3.4bnupby2% comparedtoApril2025 InthesecondhalfofAprilandthroughout May,marketsentimentimprovedgivensomeprogressmadeon tradetalksbetweentheEuropeanUnionandUS,andnotablyatariff dealbetweentheUSandtheUnitedKingdom.
Theinvestmentteammeetswithportfoliomanagersquarterlyand continuestomonitorbothfundperformanceandbroadermarket developments
Weareproudtoannouncethe publicationofour2024/25Stewardship Report Thisoutlineshowweengage withourinvestmentsonkey environmental,social,andgovernance (ESG)issues Italsoservesasour applicationtotheUKStewardshipCode anddemonstratesourcommitmentto highstandardsasaresponsible investor Wehopetomaintainourstatus asasignatory.
Wehavealsopublishedanewcase study:FuellingtheFuture:Hydrogenvs ElectricVehicles.Thisexploreshowthe automakerswe’reinvestedinviewthe futureofvehicleelectrificationand hydrogenfuelandhowourinvestments intheautomotivesectorarealigning withthetransitiontorenewables.
POOLINGUPDATE Thegovernmentrecentlyannounced changestotheLGPSpoolingstructureas partofits‘FitfortheFuture’reforms Asa result,BrunelPensionPartnership-WPF’s poolingpartner–hasbeenassessednot tomeettheGovernmentspoolingcriteria. ThismeansthatWPF,alongwiththenine otherBrunelpartnerfunds,mustidentify anotherauthorisedLGPSpooland transitionourinvestments
TheCommitteeandLocalPensionBoard haveagreedanapproachtoassessand identifythemostsuitablepoolingpartner fortheFund Thegovernmentrequiresus toconfirmourchosenpoolbySeptember 2025.TheCommitteewillbeconsidering thefuturepoolingoptionsatupcoming Committeemeetingsandwhenanew poolingpartnerisconfirmedtheFundwill sharethisinformationwithemployers
Chris Moore InvestmentandAccountingTeamLead
Updates.. ANewCommittee! FollowingtheWiltshireCouncil electionswehavenowgot severalnewmembersonour PensionFundCommittee!
Welcome to:
Newchair:CllrGeorge Simmonds(previouslyonthe localpensionboard)
CllrGavinGrant(re-elected andcontinuingmembershipon thecommittee)
CllrGregoryCooper
CllrNabilNajjar
CllrChrisBrautigam
Wearealsocurrentlyrecruiting forbothemployerreproleson theCommittee.
Thisisasignificantamountof change,inwhatisshapingupto beanincrediblybusyyear,with theactuarialvaluation, governancechanges,reviewof thestrategicassetallocation andnowmovingtoanewpool aswell Wewillbesupporting theCommitteewithlotsof trainingandsupporttobring themuptospeed
Pension Dashboards InpreparationforthePension DashboardlaunchProgress updatereport|UKPensions DashboardsProgramme,the WiltshirePensionFundinvitesall newemployerstoonboardonto i-Connectwithin3monthsof joiningtheFund Usingi-Connect willallowyourmemberstoview theirlatestpensionfigures monthly Thisalsoallowto improvedataqualityandreduce processingtime,whichinturns, enablestheFundtoprovidea high-qualitypension administrationserviceandto meetstatutoryrequirements.
Ifyouarenotoni-Connectyet, wewillbecontactingyoushortly withthei-Connectonboarding requests Pleasetakeallrequired actionsorraisethiswithyour payrollprovidernow,atanearly stage.
WEARERECRUITINGFOR TWOEMPLOYERREP’SFOR OURCOMMITTEE TheCommitteeislookingfortwo EmployerRep’stohelpensure, members’benefitsaresecure,paid ontimeandpaidtotheright people.
Employerrepresentativesplayan importantpartinthegovernance andadministrationoftheFundin ensuringthatitiswellmanagedby askingquestions,offering suggestions,andrepresentingthe viewsofschememembersinits governanceandadministration.
Lookingfor an opportunity toshapethe delivery of pensions services for Wiltshire PensionFund?
Doyouhavethe experienceand enthusiasmtobepart of thePensionFund’s oversight function?
Helpensurethe members’ benefits are secure, paidontimeand paidtotheright people.
TriennialValuation Thedeadlinehasnowpassedforthesubmissionofyearenddatato theFund Wearenowreconcilingandfinalisingthedatasothatour actuariescancommencetheircalculations.Weaimtodisclosethe interimemployercontributionratesfromApril2026aheadofthe AnnualEmployerForumon27 November2025 th
Followingemployerconsultation,“academypooling”hasbeen approvedwherebyallacademiesandtheir“passthroughed” providers/AdmissionBodiese.g.cateringorcleaningproviders,will movetooneemployercontributionratefromApril2026
WewillbecommencingtheFunding StrategyStatement(FSS)consultation attheendofNovember2025which formsakeypartofthevaluation process Employersareencouragedto givefeedback.
Theemployercontributionrateswillbe confirmedoncetheRatesand AdjustmentsCertificateisissuedin March2026–thiswillconfirmyour employercontributionratesfrom1 April2026to31 March2029 st st
IfyouareTUPE transferringanystaffto anotherorganisation before31 March2026–pleasegetintouchwith theEmployerRelations Team st
In other news... WILTSHIREPENSIONFUNDEXPANDSCLIMATE OPPORTUNITIESPORTFOLIOWITHNEW SUSTAINABLEFORESTRYINVESTMENT
Wearepleasedtoannounceourcommitmentof£23minthe CampbellGlobalForest&ClimateSolutionsFundII,withCampbell Global,aJP MorganAssetManagementcompany
ThisisWiltshirePensionFund'sfirstinvestmentinNaturalCapital,which formspartofourClimateOpportunitiesPortfolio(Clops)whichhas anobjective:
Toearnsuperiorrisk-adjustedreturnsbyinvestinginadiversifiedmix ofassetswhichhavetheintentiontodeliverrealWorldchangeby activelysupportingthetransitiontoalowcarboneconomy.
NewSustainableForestryInvestment
��£23mcommitment
��Long-termrisk-adjustedreturnsaligned withClops'targetof8-10%
♻Achieveacarbon-negativeoutcome
��Creatinglivingwagejobsforrural communities
MINDTHEPENSIONSGAPCONSULTATION Asafund,wearepassionateabouthelpingourmembers understandtheirpensionsandplanforafinancially secureretirement.Inlinewiththiscommitment,wewillbe respondingtotheAccessandFairnessconsultation,which addressesproposedchangestoimprovefairnessand accesstotheLocalGovernmentPensionScheme(LGPS)
Wehaverecentlytakenstepstoencourageour memberstotakepartinthisimportantconsultation.
Didyouknow?
�� 80%ofWiltshirePensionFund’smembersarefemale
�� Averageannualwomen’spensioninWiltshirePensionFundis£2,117 that’s£1,412lessthantheaveragemen’spension!
�� Thisconsultationisthefirststepintherightdirectiontocreatinga fairerretirementforall,coveringarangeofareaswithaspecificfocus onthegenderpensionsgap
BUILDINGAFFORDABLEHOUSINGINTHEHEARTOF WILTSHIRE Earlierthisyearwewerethrilledtoattendasecondvisittothe FugglestoneaffordablehousingdevelopmentwithCBREInvestment Management(CBREIM).Onlyashortdrivefromourofficesin Trowbridge,thesiteislocatedinthemedievalcityofSalisbury,whichis alsojustacoupleofmilesawayfromStonehenge.
Weareproudtohavecommitted£40mtoCBRE'sUKAffordable HousingFundwhichformspartofour~£110mAffordableHousing portfolio.
Fugglestonedevelopment:
��£40mcommitmenttolocalaffordablehousing
�� Localinvestment-creatinghousingandemploymentopportunities withinWiltshire
�� EnergyEfficientsite-EPCB,opengreenspacesandairsourceheat pumps
InsightsintoourVotingHighlights Our Q1 2025 Voting Highlights are ready to view!
�� Aspartofourinvestmentportfolios,WPFownsshares invariouscompanies.Aspartialowners,wehavethe righttovoteonkeymattersatcompanyAGMs(annual generalmeetings) Whilesomevotescoverroutine businesslikereappointingauditors,othersinvolvemore controversialissuessuchasexecutivepayandclimate action.
Q1summaryincludingvotescastonequityholdings:
✅Wevotedat196meetingson2,501resolutions.
✅InouractiveportfoliosmanagedbyBrunel,we votedinlinewithmanagement’srecommendations on94%ofresolutions.
✅Inourpassiveportfolios(managedbyBrunel)and ourportfoliosthatareactivelymanagedoutsideof Brunel,wevotedinfavourof80%ofresolutions.
JUNE2025MEMBER WEBINARS OurCustomerMissionistodeliver aneffectiveservice,providingour memberswiththetoolsthey needtoplanfortheirfinancial future
Tohelpourmembers,wehost quarterlywebinarsaimedat differentstagesintheirpension journey,fromnewjoinersthrough topre-retirementconsiderations.
Wewerethrilledtoseesomany membersengagingwithour webinarswhichwerefully subscribedwithover200 attendees
Buildingonthesuccessof lastyear’scampaign,we arethrilledtobe celebratingPension AwarenessWeekin September2025
Throughouttheweekwe willbeofferingdrop-in sessions,webinarsand onlineresourcesto supportmemberswith engagingwiththeir pensions
COMINGSOONPensionAwareness Week 15-21September2025 Signpostyour employeestoour memberevents andwebinars here
Reminders I-CONNECT EMPLOYERS Allemployersmustensurethat theysubmittheirmonthly payrollreturnsbythe10thofthe monthfollowingthedateof deduction
Pleaseensurestrictchecksare inplacewhensubmittingthe monthlypayrollreturnsto ensurewereceivecorrectdata, asourpensionsystemis updatedautomaticallyfromiConnectsubmissions.
Pleasevisitourwebsitewhere youcanfindalldetailed informationrelevanttothe monthlyi-Connectsubmissions andotheremployerqueries.
Pleasecontact PensionForms@wiltshire.gov.uk forfurthersupportwithiConnect.
NON I-CONNECT EMPLOYERS Pleaseinformuswhennew membersstart,leave,retireor changetheirdetailsviathe formsandspreadsheets foundontheEmployerForms sectionofourwebsite.
PENSION CONTRIBUTIONS Youhavelegalrequirementto payemployeeandemployer pensioncontributionstous (includingadditional contributionspaymentsbut notAVCs)bythe19thofthe monthfollowingthemonthof deduction
Allcontributionspaidshould beaccompaniedbyabrief, completedremittanceadvice usingourstandardtemplate
Youcanfindtheremittance adviceintheemployersforms section.
AUTHORISEDCONTACTS Hastherebeenachangeinyourteams? Visitourwebsitetocompleteourauthorised contactsformandifi-Connectaccessis alsorequiredthei-ConnectChange/New UserRequestForm
OUTSOURCING Asareminder,pleasenotifyuspriortoany payrollchanges,TUPEs/transfers,re-tendersfor newcateringorcleaningcontracts
EMPLOYERRELATIONSEMAIL Tobetterassistouremployers,wehavecreated agroupmailboxforouremployerrelationsteam.
Employer.Relations@wiltshire.gov.uk
LGPS Regulations and Guidance
USEFULLINKS EmployerGuidesandVideos
Trainingrequests
Employerforms
LGPSEmployerbitesizetraining
