Agenda and minutes

Surrey Local Firefighters' Pension Board
Tuesday, 26 July 2016 10.00 am

Venue: The Chapel, Surrey Fire and Rescue Service Headquarters, Croydon Road, Reigate, Surrey, RH2 0EJ

Items
No. Item

1/16

APOLOGIES FOR ABSENCE AND SUBSTITUTIONS

2/16

MINUTES FROM THE PREVIOUS MEETING: 16 October 2015 pdf icon PDF 109 KB

3/16

DECLARATIONS OF INTEREST

4/16

QUESTIONS AND PETITIONS

5/16

PENSION REGULATOR REGISTRATION - VERBAL UPDATE

    To update the Board on progress with registering the Firefighters’ Pension Scheme with the Pension Regulator.

    Minutes:

    Declarations of interest:

     

    None.

     

    Witnesses:

     

    Sue Grimstead, Operations Manager, Pension Services

    Neil Mason, Senior Advisor (Pension Fund), Pensions and Treasury

    Lindsey Shaw, Workforce Information Officer, Surrey Fire and Rescue Service

     

    Key points raised during the discussion:

     

    1.    The Board was informed that the Pension Regulator had been introduced as part of the new statutory framework for public services pension funds in April 2015.

     

    2.    The Board was informed of the following information:

     

    ·         The Regulator had contacted the Council in March 2016 requesting that the Firefighters’ Pension Fund complete registration via a data return. Pension Services wrote on 25 April 2016 asking for clarification on some of the information requested.

    ·         The Regulator had followed this with a letter to Leader of the Council and the Board Chairman on 13 June 2016 advising there was a penalty for not registering the fund.

    ·         The Pension Regulator confirmed receipt of the registration information on 21 June 2016. There was a further request from the Regulator’s policy lead on 8 July, though this was subsequently queried and confirmation was provided that the return on 21 June 2016 had been received.

     

    3.    Officers expressed the view that the confusion had been as a result of the new requirements from the Pension Regulator. A link had subsequently been established with the Regulator and officers stated that they were confident annual data returns would be supplied on time in August 2016.

     

    4.    It was confirmed by officers that there had been no material impact on members, and that there had been no further consequence to the Fund.

     

    Recommendations:

     

    None.

     

    Actions/further information to be provided:

     

    Pension Service to inform the Board when the 2015/16 annual return has been supplied to the Pension Regulator.

     

6/16

ADMINISTRATION STATISTICS 1 APRIL 2015 - 31 MARCH 2016 pdf icon PDF 202 KB

    The Board is asked to note the content of this report and make recommendations if any further action is required.

    Additional documents:

    Minutes:

    Declarations of interest:

     

    None.

     

    Witnesses:

     

    Sue Grimstead, Operations Manager, Pension Services

    Neil Mason, Senior Advisor (Pension Fund), Pensions and Treasury

    Lindsey Shaw, Workforce Information Officer, Surrey Fire and Rescue Service

     

    Key points raised during the discussion:

     

    1.    Officers commented that the Scheme Advisory Board for Firefighters Pension Funds had not issued any Key Performance Indicator (KPI) guidance at the present time. Consequently, the administration statistics were presented to the Board as a base set of KPIs. It was highlighted that the Pension Service would welcome the Board’s assistance in devising a set of KPIs that would help fulfil its role.

     

    2.    The Board requested that a regular item was brought on the number of Internal Dispute Resolution Procedures (IDRPs) undertaken, and a brief summary of issues and themes arising from these.

     

    3.    The Board requested that a list of communications that had been sent to members of the Fund to be reported to the Board regularly.

     

    4.    Officers clarified that pensioners who had passed away would still have an impact on the fund, as widows would be in receipt of a widow’s/widower’s pension.

     

    5.    It was confirmed that a number of lump sum payments had been processed after 10 working days from the point of retirement. This was as result of the process for authorising lump sums, which often were significant amounts requiring higher officer authorisation. The Pension Service and Surrey Fire and Rescue Service were seeking to improve this process through better electronic communication.

     

    6.    The Board confirmed with officers that all pensions were paid on the last Thursday of the month, and that there were no instances of delayed payment in that respect.

     

    Recommendations:

     

    None.

     

    Actions/further information to be provided:

     

    Future Key Performance Indicator reports to include:

    ·         number of Internal Dispute Resolution Procedures (IDRPs) undertaken, and a brief summary of issues and themes arising from these.

    ·         a list of communications to members in the preceding period.

7/16

DATE OF THE NEXT MEETING