Report attached.

Contact: Vicky Jenks 01743 252192

The Board received the report of the Pensions Administration Manager – copy attached to the signed Minutes – which provided Members with the latest administration and regulatory updates affecting the Local Government Pensions Scheme.

The Pensions Administration Manager introduced and amplified her report which updated Members on the work undertaken by the pensions administration team including Key Performance Indicators (KPIs), Pension increase, valuation and Pensions Dashboard.

The Pensions Administration Manager drew attention to the 16 KPI’s, 12 of which were achieving at least 95% of cases being completed within the statutory timeframes.  She confirmed that processes were continually being looked at to ensure the best use of technology including utilising automation where available.  She informed the meeting that two additional pensions assistants had been recruited in the membership and benefits team along with one ‘floater’ assistant to work across all teams to help where necessary where resource was needed.  Two maternity covers had been backfilled, and two new communications assistants had been recruited.  The Pensions Administration Manager highlighted the training being undertaken by the new recruits along with how the helpdesk was managed.

In response to a query on the data contained within Appendix A, it was confirmed that the period April to June was usually a very busy period for the teams as it was year-end.  In response to a further query around those areas that were not achieving 95% completed within the legal target, the Pensions Administration Manager explained some of the issues and confirmed that they were looking at the processes to see whether they could be improved.

The Pensions Administration Manager explained that the qualification now available to staff was specific to pensions and the LGPS.  She explained that all calculations made by new recruits were checked by a senior officer and that nothing got paid without it being checked and authorised first.  She then referred to external training provided by LGA that staff could access. 

Concern was raised that following the recent local elections a brand-new Pensions Committee would be appointed, and a brief discussion ensued.  The Pensions Administration Manager stressed the amount of work that would necessarily be generated to ensure Members understood what their role and responsibilities were and that they would ensure robust training was in place prior to the first meeting in June when there would be a lot of policies being presented for approval.  It was confirmed that this would not affect the work of the Board other than keeping a check that the decisions being made by the Committee were sound.

Turning to the regulatory updates, the Pensions Administration Manager discussed the fit for future consultation and the recent HMRC consultation regarding inheritance tax on pensions, the change to the minimum pensions age, and implementation of the Pensions dashboard.  In response to a query, it was confirmed that members were being advised of the change to the minimum pension age.  She explained that the mortality screening and address tracing tool would initially generate more work but that this should even off going forward.

        RESOLVED:

        That the contents of the report be noted.