Issue - meetings

Pensions Administration Activity and Performance Update

Meeting: 20/10/2020 - Warwickshire Local Pension Board (Item 3)

3 Pensions Administration Activity and Performance Update pdf icon PDF 620 KB

Minutes:

This report, presented by Vicky Jenks, Pensions Admin Delivery Lead, provided an update on key developments affecting pensions administration and the performance of the Pension Administration Service.  The report focussed on progress in implementing the Governance Action Plan, issue of Annual Benefit Statements, the Year End process, commencement of the GMP reconciliation process, key performance indicators, workloads, recorded breaches as set out in table 1 of the report, the outcomes of audit reports which had been submitted to Audit and Standards Committee, progress on the i-Connect project, planning to manage implementation of the McCloud/Sargeant Remedy, changes to exit payment regulations, and employers leaving and joining the fund.

 

The Board noted that the breaches log would be of greater benefit if improvements were made in the clarity of the entry date and for more consistent use of colour coding.  It was agreed that this feedback would be used to amend and improve the log.

 

In response to a query regarding the number of deferred scheme members for which there was no address, Vicky Jenks, Pensions Admin Delivery Lead, advised that more work was being done to identify missing data, including use of a tracing service, and once an individual had been found, records were being updated and individuals reminded to keep their records up to date.  There was some discussion as to whether the delay in the despatch of annual benefits statements for these people should be treated as a red breach and although there was some tentative agreement to this suggestion, further guidance would be sought.

 

Progress on the iConnect project was welcomed with further detail on the implementation process, including lists of the employers on board, was sought.  The Board was advised that once phase 1 had been implemented, it would be possible to look at how much quicker information was being received to reduce the number of breaches.

 

With regard to a question on responsibility for the implementation of the McCloud / Sargeant Remedy, the Board were advised that it was intended to appoint a project manager, potentially provided by an external company and a strategic board made up of key stakeholders.  The Assistant Director – Finance had ultimate responsibility for the project and would ensure that resources were in place to deliver the project.

 

Some disappointment was expressed with regard to the changes to exit payment regulations, with concern expressed for the impact the changes could potentially have on public sector employees with long service and relatively low pay who were facing redundancy near to retirement age.  It was noted that there had been strong representations nationally on the issue.

 

Resolved

 

1.     The Local Pension Board noted the latest developments in pensions administration and the progress made since the previous meeting.

2.     The Local Pension Board noted the government consultation on the reform of exit payments in local government as set out in Section 13 of the report