Issue - meetings

11:00

The report PF10 updates the Committee on the latest position on administration issues.

The Committee is RECOMMENDED to:

(a)  to consider whether it wishes to apply the intention of the Regulations for the pre-1998 leavers and allow member request for early payment at any time from age 55 for that group, or to wait until all options are covered in a further set of consultations and new regulations;

(b)    determine whether this fund will / will not consider applications to ‘switch on’ the 85 year as this would increase costs/ on an individual application initially to the Pension Services Manager for decision;

(c)  agree to the inclusion of the groups as set out in paragraphs 12-23 in the administration strategy, as events requiring the upfront full cost to be provided by the employer agreeing to the request/ having a policy incurring this cost;

(d)   determine in respect of the case set out in paragraph 35;

(e)  whether payment of the child’s pension can continue from present until age 23:

                                         i.    whether dependency in this case would hold after that date?

                                        ii.    What medical information the committee would require?

                                      iii.    Whether the committee has a view on the frequency of reviewing continued payment?

(f)   determine whether to set up an escrow account for the Fund;

(g)  determine what approach is to be applied to discrepancies arising from GMP reconciliation; and

(h)  agree the appointment of ITM to finalise this project at cost stated.

(a)  to apply the current regulations until such time as there is a further set of consultations and regulations and to request Mrs Fox to send an accompanying explanatory letter to those people who submit a request;

(b)  not to consider applications to switch the 85 - year rule, on the grounds that this would be a cost to the Fund rather than to the employer;

(c)  agreed and to add an inclusion into the Administration Strategy that the employer would be liable for payment of the one-off lump sum;

(d)  to agree that the child’s pension should continue until age 23 on the proviso that a doctor’s letter is submitted confirming that the child meets the Disability Discrimination Act’s definition of disability; and to review the case again at age 23;

(e)  agree to set up one escrow account to cover all payments to enable payment to be made within two years;

(f)   to request the officers to work with relevant partners to try to assist those people who choose not take their pension for whatever reason:and in the case of overpayment of a pension, to write off all cases under £10k, those over £10k to come back to Committee for further consideration;

(g)  agree the appointment of ITM to finalise this project at the cost stated in the report.

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The Committee considered a report (PF10) which gave an update on the latest position on administration issues and which requested determination on a number of issues as set out in the report, the resolutions for which are set out below.

RESOLVED:

(a)  with regard to the question of whether to apply the intention of the Regulations for the pre-1998 leavers and to allow member request for early payment at any time from age 55 for that group, it was agreed to apply the current regulations until such time as there was a further set of consultations and regulations and to request Mrs Fox to send an accompanying explanatory letter to those people who submitted a request;

(b)  not to consider applications to switch the 85 - year rule on the grounds that this would be a cost to the Fund rather than to the employer;

(c)  agree to the inclusion of the groups as set out in paragraphs 12-23 in the Administration Strategy and to add an inclusion into the Administration Strategy that the employer would be liable for payment of the one-off lump sum;

(d)  with regard to the case set out in paragraph 35 of the report, to agree that the child’s pension should continue until age 23 on the proviso that a doctor’s letter is submitted confirming that the child meets the Disability Discrimination Act’s definition of disability; and to review the case again at age 23;

(e)  agree that one escrow account should be set up to cover all payments to enable payment to be made within two years; and to request the officers to work with relevant partners to try to assist those people who choose not take their pension for whatever reason:

(f)   agree that in the case of overpayment of a pension, to write off all cases under £10k, those over £10k to come back to Committee for further consideration; and

(g)  agree the appointment of ITM to finalise this project at the cost stated in the report.

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