Issue - meetings

The Board are invited to review the latest Administration Report as presented to the Pension Fund Committee on 5 March 2021, including the latest performance statistics for the Service.

The Board had been invited to review the latest Administration Report as presented to the Pension Fund Committee on 5 March 2021, including the latest performance statistics for the Service.

Asked about the McCloud judgement, Sally Fox responded that the data received for employers was being examined by the Systems Team to identify any gaps.  They will then be sent to the Employer Team who will set out a plan to contact employers who are affected to get that information.  Scheme employers had been alerted to the situation.

On staffing, Sally Fox reported that she had several vacancies and four new staff on training.  The more experienced team members were being distributed thinly in order to support the less experienced.

The report was noted.

12.55pm

This report updates the Committee on the key administration issues including the iConnect project, service performance measurement and any write offs agreed in the last quarter.  The Committee will be asked to approve amendments to the Funding Strategy Statement following the recent consultation on amendments reflecting the changes in Regulations in respect of employer exits from the Fund.

The Committee is RECOMMENDED to

a)       Note the report

b)       Agree to the temporary reduction in service level targets

c)       Agree the changes to the Funding Strategy Statement

The Committee was provided with a report which provided an update on the key administration issues including the iConnect project, service performance measurement and any write offs agreed in the last quarter.  In addition, the Committee was asked to approve amendments to the Funding Strategy Statement following the recent consultation on amendments reflecting the changes in Regulations in respect of employer exits from the Fund.

The Committee was provided with details of the staffing position, particularly relating to the three administrator vacancies. The Chairman referred to the possibility of resource sharing with other Pension Funds aligned to Brunel. It was agreed that this be explored with a report submitted to the next meeting of the Committee.

Reference was made to the Service Level Agreement (SLA) where five subjects had not been met last month, based on a combination of factors, but being mainly due to inexperienced team members. The Committee was asked for a temporary reduction in SLA targets to 75%, to be reviewed at the next Committee meeting.  

Members were also provided with an addendum to the report which sought consideration to amending the Scheme Pays Policy which allowed members to make backdated applications, for voluntary scheme pays elections, to the Fund, providing the Fund has the legal authority to accept these.

Discussion took place on the proposal and concern was expressed at the potential financial implications of this if there were further requests. Members agreed that the Scheme Pays Policy should not be amended to allow members to make backdated applications, for voluntary scheme pays elections, to the Fund. Councillors Jo Robb and Roz Smith abstained from voting on this decision.

RESOLVED – (1) That the report be noted.

(2) That approval be given to a temporary reduction in service level agreement targets (down to 75%) and this be reviewed at the next meeting of the Committee.

(3) That a report be submitted to the next meeting of the Committee on possible resource sharing with other Pension Funds aligned to Brunel.

(4) That approval be given to confirming the changes to the Funding Strategy Statement as detailed in the report.

(5) That approval not be given to the request to amend the Scheme Pays Policy which would allow members to make backdated applications, for voluntary scheme pays elections, to the Fund.