Agenda item

Report by the Director of Finance and Support Services

The Panel is asked to note the update.

4.1     The Panel considered a report by the Director of Finance and Support Services (copy appended to the signed minutes).

4.2     Andrew Lowe, Head of Pensions, Investments & Borrowing, Hampshire County Council introduced an end of year report on the pension administration performance.  The report also set out the working practice of the administration team since late March in response to the Covid19 public health crisis. 

4.3     Responses to comments and questions (including questions submitted in advance of the meeting) included:

•     Explanation that for the West Sussex Local Government Pension Scheme, the number of member deaths totalled 67 in November, 40 in December, 74 in January, 74 in February, 59 in March, 77 in April.  The majority of the deaths were in the pensioner category, and this would be monitored to see if those levels sustained. 

•     Explanation that the administration team was coping in the current public health crisis in terms of resources. As explained in the report, service levels had been maintained and business was as usual. No significant change had been seen in any of the key performance indices, although there was starting to be some slowdown related to some casework being sent to the team as a result of employers not being in the office. There may therefore be some catch-up required on that later in the process.

•     Confirmation that Hampshire County Council had taken over the administration on 04 March 2019.

•     Explanation that the ‘full year completed on time’ figure for divorce of 68% reflected prioritisation of the benefit paying casework at the beginning of the contract, and performance had improved to 100% since January.  It was noted that all members had received the necessary information in time for their own purposes.

•     Comment that the work put in by the team was noted and much appreciated.  That an Annual Review had been undertaken and as shown in the table, indicators for the quarter were at 100% and this was what had been anticipated a year ago.

Caroline Burton joined the meeting at this point.

•     Comment that the level of queries and complaints was low in comparison with a year ago.

•     Explanation that for the March payroll no notable delay or reduction in payment had been seen from employers by the Pension Fund team.  Close monitoring would be undertaken by the team during April including liaison with employers in the theatre and leisure groups in the scheme.

•     Explanation that production of benefit statements was proceeding as normal and it was not expected these would be delayed.

•     Confirmation that proactive engagement would be undertaken by the Pension Fund team with employers and their guarantors in respect of their participation in the scheme where necessary.

4.4     The Chairman thanked the administration team for its work over the year and noted the huge task in sorting all the data and that the team had risen well to the challenge.  Congratulations were given on the great results for quarter four.

4.5     Resolved – that Panel noted the update.