Agenda item

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 progress of the Annual Benefit Statements for 24/25 within a future Scheme Manager Update Report. It was further agreed to circulate the log of exceptions with members of the Board for consideration at a future meeting.

Resolved:

The Board noted the report.