Agenda item

The Board has previously requested to be kept updated on progress relating to a number of key administration projects and planned improvements which may have an impact on members of the pension fund and the purpose of this report is to provide an update on the current status and progress against any specific target dates.

Speakers:

Tom Lewis, Systems & Data Senior Manager

Neil Mason, Assistant Director - LGPS Senior Officer

Key points raised during the discussion:

1.    The Systems & Data Senior Manager presented highlights of the report that included:

·         KPI information and how it was presented is being reviewed.  The Board would be kept updated on progress.

·         The Internal Dispute Resolution process was explained

2.    It was noted that the Helpdesk was being transitioned into the Pension Team.  The Systems & Data Senior Manager presenting highlights of the report that included the following headlines:

• Pensions Helpdesk – there had been an increase in enquiries, but this was not uncommon during Annual Benefit Statement period.  There had also been an increased number of opt-outs due to the auto-enrolment staging date.
• Guaranteed Minimum Pension – work was being undertaken with the third-party supplier to minimise exclusions.
• McCloud – continues to be under review and awaiting further Regulatory instruction..

·         Data Cleansing – the Fund actuary, Hymans, were happy with work undertaken so far.  In response to a Member query regarding when valuation results would be available it was reported that more information would be available after a meeting with the actuary due to be held on 24 August.

• Address Tracing – Officers would consider a Member suggestion to look at those under 75yrs of age and encourage those deferred to take their pension.  It was also reported that any unclaimed pensions was included as a liability. 

·         Pension Increase 2022 – all payments due had been processed.

• Annual Benefit Statements (ABS) for 2022 – excellent progress had been made.  The Chairman asked that a blank ABS statement template be attached as an annex to the next report to come to the Board.
• Pensions Administration System Developments – a brief update on the migration work was given and there would be more information reported to the next meeting.

Actions/ further information to be provided:

That a blank ABS statement template be attached as an annex to the next report.

Recommendations:

That the report be noted.