Mr Nick Harrison - Chairman of the Local Pension
Nick Weaver - Head of Pensions
Neil Mason - Strategic Finance Manager
raised in the discussion:
The Chairman of the Local Pension Board informed the
Committee that the Board recently met the new Head of Pensions
Administration, who provided Members with his initial view on key
issues within the service.
The Chairman of the Local Pension Board summarised
that the Board:
discussed the Service Improvement Plan which was
ambitious in its proposed timescales to deliver key
noted the two challenging Internal Audit reviews and
a further audit position statement was expected.
focused on the Key Performance Indicators (KPIs),
concluding that it did not think the Pensions Administration team
were making sufficient progress on the backlog.
that there were several changes to existing risks on
the register and a new one was added concerning inaccurate
KPI’s as a result of the lack of management control over the
backlog - Risk A23.
acknowledged that the figures showed that routine
work was being cleared in preference to critical work and asked for
deaths, new pensions and transfers to be prioritised and completed
in good time - JLT were successfully working through their tranche
of the backlog.
Vice-Chairman commented that much of the report was focused on
Pensions Administration. He felt that there was greater scope for
the Local Pension Board (LPB) to be a point of governance in
response to the Committee spending increasing amount of time on ESG
matters. He commented that it would be useful to add the
reputational risk of the Fund to the Fund’s Risk Register as
reviewed by the LPB.
- The Head
of Pensions Administration acknowledged that there was a lot to do
and it was vital to balance ensuring the fundamentals were correct
whilst improving the service. It was important to complete one
large piece of work at a time and address the backlog and KPIs
which did not add up.
response to a Member query on whether the Committee could help
speed up progress within Pensions Administration through more
resources or learning from other funds, the Chairman of the Local
Pension Board was satisfied with the approach taken by the Head of
- The Head
of Pensions Administration stressed that he wanted the Pensions
Administration team to be empowered to understand and take
responsibility for ownership of projects rather than greater
outsourcing to external administration teams.
Strategic Finance Manager (Pensions) reminded the Committee of the
governance structure in which the Pension Fund and Pensions
Administration teams regularly met to review actions taken to the
Local Pension Board, which were later scrutinised by the
That the Committee:
the proposed change to the Risk Register.
the minutes of the Local Pension Board meeting of 13 February
Actions/further information to be provided:
The Chairman of the Local
Pension Board would work with officers to add a new risk to the
Fund’s Risk Register concerning the reputational risk of the
Fund in respect of ESG matters.