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EmployersQ1-2026 Newsletter

Pg2-3 WelcomefromJenniferDevine,HeadofWiltshirePensionFund

Pg4 FundingStrategyStatement(FSS)UpdateandTriennial ValuationUpdate

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Pg6

Pg7 2025EmployerForumRecap

Pg8 Administrationteamupdate

Pg9 Q32025VotingHighlights

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Pg17

HelloEmployers,

Asyouallknow,theactuarialvaluationisongoing,and we ’repleasedtoconfirmthisisallontracktoconcludein linewiththeoriginaltimelines Wewerereallypleasedthat severalemployersengagedwithusandprovided feedbackonthedraftFundingStrategyStatement(FSS). Wearetakingthefeedbackonboard,andforfull transparency,aswellasthefinalFSSandratesapproved bytheCommitteeandsignedoffbytheactuary,youwill receiveapaperinMarchexplaininghowwehave respondedtoyourfeedback.

Wewanttoknowhowwecansupportyouinthebestway, sowehavebeenre-vampingouremployersurvey!Please clickheretocompletethesurvey!Wereallywanttoknow yourviews,andyourfeedbackwillhelpustorefineour approach Thereismoredetaillaterinthisnewsletter

Wearepleasedtohaveanexcitingtrainingopportunity comingupforemployers!On4March2026,weare holdingatrainingsessionforourteam,theCommittee andLocalPensionBoardandschemeemployerson pensiondashboards Thetrainingwillbedeliveredby RichardSmith(DashboardIdeas.co.uk|Thinkingabouthow besttokeeptrackofallyourUKpensions) Richardisa passionatespokespersonforpensiondashboards Heisa reallyengagingspeakerandhaslotsofinsightsand knowledgetosharewithus Thesedashboardswillbe revolutionary,helpingpeopletotraceanylostpensions, butalsoallowingthemtoseealloftheirpensionsavingsin oneplace,enablingbetterplanningforafinanciallysecure future.

ThetrainingwillbeinTrowbridgeCivicCentre,withtea& coffeefrom10,startingaround10:15andlasting approximately1hour

Reasonstocome/whatwillbecovered:

Learnaboutwhodashboardsarebeingtargetedat, andwhatthismeansforWPF’sowndemographicof members

Asneakpeekintowhatthedashboardwilllooklike Howtheendusermightrespondtotheinformation, whatthismeansforWPFandtheemployers

HowWPFandtheemployerscanbestsupportandadd valueformembers

Thisisveryrelevantforemployers,anditwillbeimportant foryoutounderstandwhatdashboardsareandthe questionsfromyouremployeesthatmayarisefromthem, aswellasthinkingabouthowbesttosupportemployees onthistopic Ifyouwouldliketoattend,pleaseletusknow byemailingPensionCommunications@wiltshire.gov.uk.I hopetoseesomeofyouthere!

I’mpleasedtoshareabriefupdateonwherewearewith investmentpooling,andourmovetoLGPSCentral Chris Moore(InvestmentandAccountingTeamLeadatWPF) andIrecentlyattendedasummitwithallthepartnerfunds ofLGPSCentral,whichwasareallypositivestepin developingrelationshipsandasharedsenseofpurpose. Wemadeashortvideoaboutthesummit,whichyoucan watchaswellasreadmoreaboutithere.

Jennifer Devine HeadofWiltshirePensionFund

FundingStrategyStatement(FSS) UpdateandTriennialValuationUpdate

ThefeedbackfromtheFundingStrategyStatement(FSS) consultationwasdiscussedatthe18December2025Pension Committeemeetingandtherewillbesomeamendmentstothe finalFSSasaresultofthisandtheemployerconsultation feedback We’llbeintouchwithallemployersinearlyMarch2026, withmoredetailonthefeedbackreceivedfromtheFSS consultation.

Additionally,followingthefeedbackreceivedfromtheFSS consultation,we’vediscussedwiththeFundActuaryabout reducingtheacademypoolcontributionrate Thisandthenewly proposedemployercontributionratewascommunicatedtoall relevantemployerson9January2026

OncethefinalFSShasbeenapprovedbythePensionCommittee on26February2026,theactuarieswillissuetheRatesand AdjustmentsCertificateswhichwillconfirmtheemployer contributionratesfortheperiod1April2026to31March2029 We’llcommunicatetheconfirmedemployercontributionrates weekcommencing2March2026.

2025EmployerForum

AtWiltshirePensionFund,we strivetoempowerourEmployers tobeadvocatesofthescheme thatprovidesexcellentbenefitsto theiremployees.

Ourgoalistosupportyoutofeel confidentinfulfillingyour responsibilitiestoyouremployees byprovidingtheknowledge, resourcesandtrainingyouneed.

Wewerethrilledtorecentlyhost our2025EmployerForum,which notonlygaveusfantastic opportunitytosharekeyupdates andtrainingfromacrosstheFund, buttoalsotaketimetoconnect andbuildstrongerworking relationshipsforthefuture.

Wehopetoseemoreofyouat thenextEmployerForumin November2026!.

Asafund,ourvisionistodeliveranoutstandingservicetoourscheme employersandmembers.

Asyoucanyousee,theresultshavebeenmixedbutit’spleasingtoseethat overall95%ofcaseshavebeencompletedontimeinthequarter.Thereare currently3,096opencaseswith72casesinthebacklog Theteam’stargetis tohitallKPIsandreducethebacklogtolessthen10casesbytheendofthe nextquarter

Casesmisstargetsforavarietyofreasonsthatcanbecausedbythe members,employers,otherFundsandsometimesourselves Asemployers youcanhelpustoimproveourservicebyensuringanyinformationprovided isaccurateandsentinatimelymanner Acommoncausefordelaysin completingretirementcasesformembersis,forexample,confusionaround thedefinitionofAssumedPensionablePay

Ifyouhaveanyqueriesonwhatinformationisrequiredforanycase,our EmployerServicesteamareveryhappytoprovidethenecessarysupport

Employers,weneedyourfeedback!

Asafund,ourvisionisistodeliveran outstandingservicetoourschemeemployers andmembers

Thefeedbackfromouremployershelpsusto identifytrainingneedsandwaystoimproveour servicesforthefuture.

Pleaseletusknow,throughourshortsurvey, aboutyourexperiencewiththefund,what engagementyou’dliketoseefromusinthe future,andanytrainingthatwouldbehelpfulto youtosupportyourroleasafundemployer.

PleasecompletethesurveybyFriday27 February2026,andinlinewithourvaluesof clearcommunications,transparencyand informationsharing,we’llsharethekeyresults andanychangeswecanmaketoprovidean exceptionalservice

Thisnewregularfeaturewillbringyoushortupdatesonhowthe Fundisgoverned,theruleswehavetofollowandthechanges we ’vemadeasaresult.

Pension Schemes Bill

TheUK'sPensionSchemesBillisamajorreformpackageaimingto improveprivatepensionoutcomesbycreatinga‘valueformoney’ tionschemes,consolidatingsmall tmentviapoolingreformsforthe efitschemestosharefunding whichisultimatelyintendedtodeliver ionsofsavers.

goingthroughParliamentandisnot melaw,itmustpassthroughseveral mmonsandtheHouseofLords.Atits crutinisedlinebyline-everyclause entscanbedebatedandvotedon.It agesarecompletedanditreceives –thisisknownasRoyalAssent.

edbynewLGPSregulationscovering ninginvestmentstrategystatements,

InvestmentInsights

ThefundendedNovemberat£3.8bn, up8%year-on-yearand5%sincethe lastnewsletter Septemberand Octoberwerestrongmonths,drivenby emergingmarketsandAI,while Novembersawasmalldipof0.35%as marketsturnedmorecautious.

Globally,sentimentwassupportedby easingtradetensions,slowinginflation, USratecuts,andhighearnings,with JapanandtheUSshowingthe strongestgrowth.EuropeandtheUK laggedslightlyamidpolitical uncertainty,andNovemberbrought volatilityasmarketsreactedtotheUS governmentshutdownandconcerns overAIvaluations.

Incaseyoumissedit,sinceourlast update,wepublishedourClimateand NatureReport,outliningprogress againstclimatecommitmentsand highlightingthetopcontributorsto fossilfuelexposure.

Workontransitioningtoournew poolingpartner,LGPSCentral,is progressingwell,withlegalworkand assettransfersexpectedtoconcludein thecomingmonths.Theinvestment teamcontinuestomonitormarkets andportfoliopositioningclosely.

InsightsintoourVotingHighlights

��TransparencyandinformationsharingisoneofourStrategic VisionGoals,highlightingtheirimportancetous Weknowthey matterjustasmuchtoourmembers,whichiswhywepublish quarterlyinsightsintoourequityholdings

�� TheimagesbelowshowourQ32025largest10holdingsby value,representing20.8%ofthefund’stotalequityholdings.Along withachartshowingthesplitofequityholdingsbysector, illustratingourdiversificationacrossawiderangeofsectors

�� Aspartofourinvestmentportfolios,WPFownssharesinvarious companies.Aspartialowners,wehavetherighttovoteonkey mattersatcompanyAGMs(annualgeneralmeetings).Whilesome votescoverroutinebusinesslikereappointingauditors,others involvemorecontroversialissuessuchasexecutivepayand climateaction

Climatechangeisakeytopicforourmembersandemployers,and wearecommittedtokeepingallofourstakeholdersuptodatewith theprogresswearemakingtoaddressthissignificantfinancialissue

AsaFundourgoalistoprotecttheinvestmentsfromclimatechange risk,identifyopportunitiestobothinvestinandbenefitfromthe transitiontonetzero,andsecureasustainablefinancialfutureforthe Fund.

WehavecreatedthebelowonepagesummaryfromourClimate andNatureReport2025containssomekeyfacts,figuresandnews!

What’sincluded?

By28February 2026

WiltshirePensionFundtoissuethefile templateandrequirementstothe schemeemployersthatarenot onboardedintoi-Connect

31March2026

By10April2026

By30April2026

From1April2026 to31May2026

From1April2026 to15June2026

From1April 2026to31July 2026

TheendofSchemeYear

Alli-ConnectsubmissionsforMarch 2026tohavereachedWiltshire PensionFund

Allyear-endfiles(non-i-Connect)to havereachedWiltshirePensionFund

WiltshirePensionFundtoprocessalliConnectsubmissionsandyear-end files

Schemeemployerstorespondto year-endquerieswithintwoweeks

WiltshirePensionFundtoprocess responsesfromschemeemployers andmakeAnnualBenefitStatements availableviaMyWiltshirePension portal

From1August 2026to31 August2026

WiltshirePensionFundto issueAnnualBenefit Statementstomembers whorequestpaper communications

We’verecentlyreceivedconfirmationfromtheLocal GovernmentAssociation(LGA)regardingtheemployee pensioncontributionbandswhichwillbeeffectivefrom1April 2026.

Havingthisinformationinadvancemeansyoucansharewithyour payrollteam/payrollprovider,givingthemplentyoftimetoplan inanynecessarychanges.

Reminders

EMPLOYERROLETRAINING

EmployerRoletraining-Online21April2026

EmployerRoletraining-London7May2026

EmployerRoletraining-Online21July2026

EmployerRoletraining-Online19August2026

EmployerRoletraining-Online24September2026

EmployerRoletraining-Online27October2026

EmployerRoletraining-Online26November2026

AseriesofemployertrainingcoursesareavailableontheLGPS website:

AssumedPensionablePay

FinalPay

Activememberill-healthretirement

Deferred(former)memberill-healthretirement

TheabovecoursesareavailableontheLGPSRegswebsite

AVCS

CumulativeAdditionalVoluntaryContributions(AVCs),ifany,paidby theemployerinrespectoftheemploymentmustbereportedtothe scheme

RefertoourwebsiteformoreinformationonhowtoreportAVC,APC andaddedYearsviai-Connect

Ifyouhaveanyquestions,pleasedonothesitatetocontactus: pensionforms@wiltshire.gov.uk

AUTHORISEDCONTACTS

Hastherebeenachangeinyourteams? Visitourwebsitetocompleteour authorisedcontactsformandifiConnectaccessisalsorequiredtheiConnectChange/NewUserRequest Form.