Issue - meetings

The Board has requested an update on Scheme management activities.

The Board has requested an update on Scheme management activities.

Witnesses:

Key points raised during the discussion:

1.    The Senior Pensions Advisor introduced the report and highlighted the following points:

a.    In regard to the McCloud - Age Discrimination Remedy, officers stated that communications were ongoing and highlighted that 29 scheme members were due to retire this year. It was further highlighted that the Pension Team continue to work on the GAD data collection exercise to collate and report the GAD calculator data to XPS, for each cohort of membership, in accordance with the RSS timetable. Members further noted that, since 1 October 2023, any retirement had been paid remedy benefits. It was noted that those who retired before 1 October 2023 would be dealt with under the immediate choice cohort however there was a brief pause while the Home Officer considers tax implications. Officers agreed to provide a report on progress against the plans for those who retired before October 2023 outside of the meeting. 

b.    Noted details around the 10% Pensionable Allowance as outlined in the report.

c.     Noted details around the Matthews - Retained Scheme – On-Call Access as outlined in the report. Members noted that the Pension Team had submitted a business case regarding their intention to appoint a specialist ‘member tracing’ service ‘ITM’, to ensure communications were being sent to the correct addresses.

d.    In regard to the Annual Benefit Statements, officers stated that they had not yet confirmed a revised timeline with the Pension Regulator. A Member of the Board noted that there was a delay to the publication this year, partly due to issues with Unit 4, and asked whether the following Annual Benefit Statements would be available on time. Officers confirmed that the Payroll team were aware and that officers were awaiting detail on the benefit specification from XPS. It was also noted that Payroll were due to test the migration of data from SAP to Unit 4. The Chairman stated that it would be helpful to include an update on this within future Scheme Manager Update Reports. A Member asked whether a record of exceptions was available and officers confirmed that a log of exceptions was recorded and it was agreed to share it within a future meeting.

e.    Provided detail on the Pre-Retirement Courses as outlined in the report.

f.      Members noted detail in regard to the Pension Dashboard.

g.    It was noted that the Pensions Team were pleased to report the role of Senior Pension Adviser was now confirmed and the new member would be joining the team on 5 February 2024.

h.    Noted details on communications as outlined in the report.

2.    The Chairman thanked officers for their report.

Actions/ further information to be provided:

A1/24 - In regard to the McCloud - Age Discrimination Remedy, officers agreed to provide a report on progress against the plans for those who retired before October 2023 outside of the meeting. 

A2/24 - It was agreed to include an update on the  ...  view the full minutes text for item 6

The Board has requested an update on Scheme management activities.

Witnesses:

Key points raised during the discussion:

1.    The Senior Pensions Advisor introduced the report and highlighted the following points:

a.    In regard to the McCloud - Age Discrimination Remedy, Members noted that the Government published their response to the consultation document in July 2023 and that the legislation came into force on 1 October 2023.

b.    In regard to the McCloud - Age Discrimination Remedy, Members noted that a calculator had been developed by the Government Actuaries Department (GAD) which was released to Fire and Rescue Authorities (FRAs) at the end of August 2023. A Member suggested that information on the GAD calculator and contribution adjustment was made available to scheme members on the SharePoint site.

c.     Noted details around the 10% Pensionable Allowance as outlined in the report.

d.    Noted details around the Matthews - Retained Scheme – On-Call Access as outlined in the report. Members noted that guidance had been provided by the Local Government Authority on how administrate cases where scheme members were affected by both Matthews and McCloud.

e.    Noted that work around the Guaranteed Minimum Pension (GMP) Rectification was ongoing.

f.      Provided detail on the Pre-Retirement Courses as outlined in the report. A member of the Board stated that they felt the courses were very helpful and thanks the team for their work.

g.    Noted details on communications as outlined in the report.

2.    The Chairman thanked officers for their report.

Actions/ further information to be provided:

None.

Resolved:

The Board noted the report.

The Board has requested an update on Scheme management activities.

Witnesses:

Key points raised during the discussion:

1.    The Senior Pensions Advisor introduced the report and highlighted the following points:

a.    The data return for members of the 2006 scheme was due to be completed by the end of June 2023. Although the team have been working tirelessly on this project, the deadline will need to be extended to 31 July 2023.

b.    Thanked those that contributed towards the McCloud consultation.

c.     Noted that the Pensions Team's immediate priority focused on completing the McCloud data collection exercise before re-commencing with the 10% project.

d.    Noted details on risks related to the Matthews Retained scheme.

e.    In regard to pay award detials for active members, Members noted that a communication to confirm when the pay award data will be included in projections would be sent to members once the Pensions Team had received the pay award data. The Chairman asked that officers contact Board Members if they were unlikely to meet the deadline of 31 August 2023. Officers also confrim that this would be logged as a potential risk within the Risk Register.

f.      Noted that the abatement policy had been completed and approved by the Workforce Working Group (WWG) and was available to view on the Pensions SharePoint site.

g.    Noted that a meeting was hosted by XPS Administration to discuss the preparations and challenges faced by fire authorities with regards to implementation of the McCloud Age Discrimination legislation.

h.    Noted details related to communications since the last meeting.

2.    The Vice-Chairman thanked officers and stated that he had recevied good feedback from scheme members on Communications.

3.    A member asked for detail on the number of expressions of interest on the Matthews Scheme. Officers confrimed that 200 members were in scope for the modified scheme and 100 members had submitted an expression of interest. The member of the board raised concerns that scheme members were unaware of the opporunity to register an interest and asked that officers consider also confriming whether a member was not interested.

Actions/ further information to be provided:

None.

Resolved:

The Board noted the report.

The Board has requested an update on Scheme management activities.

Witnesses:

Sally Wilson, Scheme Manger

Carrie Pearce, Pensions Project Officer

Key points raised during the discussion:

1.    The Scheme Manager introduced the report and highlighted detail related to:

a.    McCloud Age Discrimination

b.    the McCloud consultation where Members noted that a meeting to review the consultation response was scheduled for 16 May 2023

c.     10% Pensionable Allowance

d.     updates related to the modified scheme

e.    details related to the spring budget

f.      details related to the pay award

g.    the next auto enrolment date in 2025

h.    that Richard Scarth was recently appointed as a substitute member of the board

i.      details related to recent training from the LGA.

2.    In regard to communications, the Chairman said that the Board would welcome any feedback on communications from the employee representatives.

Actions/ further information to be provided:

None.

Resolved:

The Board noted the report.