Issue - decisions

Pension Administration Performance

16/03/2021 - Administration procedures and performance

39.1     The Board received the Administration Report from the 25 January 2021 Pensions Committee by the Director of Finance and Support Services, for consideration.

39.2     In presenting the report, Tara Atkins confirmed that, as part of the efforts to drive good data improvements, the administration team reviewed Employer Performance for timeliness, financial control, and data quality as part of the Annual Return process.  It was noted that sixty employers had been asked to complete a mid-year check on data validation. Forty-two responses had been received so far. 

39.3     It was noted that the Pensions Regulator Scheme Return figures had been reported to the Committee and Board.  Data was now available to allow comparison that showed there had been an improvement on last year’s scores.  The Board was informed that the Fund was in the process of completing an address trace for members who were showing as a ‘lost contact’. Once completed, this was expected to improve the common data score.

39.4     It was reported that use of the Members Portal for access to Annual Benefit Statements online, as well as access and update options on personal details, had increased - which was pleasing. The Portal continued to be promoted for business as usual use.

39.5     The Board discussed whether future reporting to the Pensions Committee should include the number of complaints received.  Numbers of complaints, across the whole scheme, were noted as low. It was agreed that any reporting should provide information on resolution outcomes. 

39.6     Resolved – That the Board note the report.