Issue - meetings

Pension Administration Activity and Performance Update

Meeting: 09/12/2024 - Staff and Pensions Committee (Item 4)

4 Pension Administration Activity and Performance Update pdf icon PDF 175 KB

Additional documents:

Minutes:

Lisa Eglesfield, Pension Administration Service Manager presented the report to the committee and started with an update on the member self service portal.  It was confirmed that the fund is working hard on the current update to a new system called Engage; and this includes access to retirement planning.  The current switch on date is planned for 31st March 2025.  There will be a 2 factor log on to increase security for members.

 

The committee noted that 98.5% active members have received their statement by the deadline; all outstanding statements will be received by the 31st December 2024

 

In relation to KPI data collection, it was noted that the system is being updated so officers are currently working on two systems.  The new system will improve the ability to meet statutory deadlines which are occasionally missed on the current system.

 

In relation to McCloud, it was confirmed that it is now drawing to a close with 24 pensioners still owed money; the plan is to have them all paid by the end of 2024.

 

It was confirmed that the pensions team is currently in the first stage of the implementation of the new Pensions Dashboard Programme, a government project which will enable individuals to access their pension information online, securely and in one place.  The aim is that the first stage will finish in January 2025, and the second stage, in summer 2025.  The main issue at the moment is deciding on the criteria to use and data quality.  Councillor Bill Gifford asked if the new dashboard was likely to reduce the number of calls made to the pension team.  Lisa Eglesfield stated that this seemed unlikely – the more information someone has access to, the more questions they are likely to have.  In relation to a question from Councillor Brian Hammersley in relation to the cost of the new dashboard porgramme, it was confirmed that the ongoing costs will be exactly the same as the current costs, although there is an additional set up cost of around £35k.

 

Councillor Bill Gifford moved that the recommendation be accepted and was seconded by Councillor Mandy Tromans. This was supported unanimously by the Committee.

 

Resolved

 

That the Staff and Pensions Committee notes and comments on the content

of the report.