remuneration paid to Members in relation to their roles during the year, (£0.001m: 2024/25).
The Strategic Director Resources' remuneration is not paid directly by the Fund; costs are instead recovered as part of the management charges disclosed in note 8, this amounted to £0.039m in 2025/26 (£0.036m: 2024/25).
Total capital commitments as at 31 March 2026 amounted to £149.531m (31 March 2025: £22.856m). These commitments relate to uncalled capital on the Private Debt and Infrastructure portfolios. Drawdowns from these funds are irregular in both amount and timing, typically occurring over a period of four to six years from the date of each initial commitment. As at 31 March 2026, the Fund had no other material contingent assets or liabilities.
Subsequent to the year end, the government's Fit for the Future Bill received Royal Assent. The legislation introduced reforms to the governance and operation of Local Government Pension Scheme investment pooling arrangements.
The Fund is working with London CIV and other London authorities to implement the requirements arising from the legislation. As part of this process the Fund expects to enter into an Investment Management Agreement (IMA) with London CIV under which the pool will undertake investment management activities on behalf of the Fund.
The Fund will remain responsible for setting its Investment Strategy Statement, strategic asset allocation and funding objectives as well as monitoring pool performance.
No adjustment is required to the amounts recognised in these financial statements.
The London Borough of Ealing Pension Fund is financed through contributions from employees, the administering authority, and other participating employers, as well as returns on investments. The funding policy aims to ensure that sufficient assets are available to meet the benefits promised to members as they fall due. Employer contributions are determined by an independent triennial actuarial valuation, the last of which was undertaken as at 31 March 2022. A subsequent valuation as at 31 March 2025