Issue - meetings
Administration and LGPS Quarterly Update
Meeting: 13/03/2023 - Pensions Committee (Item 5)
5 PENSION ADMINISTRATION AND LGPS QUARTERLY UPDATE PDF 565 KB
Additional documents:
Minutes:
Ms Miriam Adams introduced the report on the Pensions Administration and LGPS Quarterly Update.
Members of the Committee had no questions for Ms Adams relating to the update.
RESOLVED:
Members noted the update.
Meeting: 27/02/2023 - Pension Board (Item 6)
6 Pension Administration and LGPS Quarterly Update PDF 565 KB
To Follow.
Additional documents:
Minutes:
Ms Miriam Adams, Interim Head of Pensions and Treasury introduced the report and said the report provided members with information relating to the administration and performance of the fund over the last quarter as well as an update on the key LGPS issues and initiatives which impact the Fund. Ms Adams referred members to paragraph 3.5 and said extra checks were being made in relation to the process of Life Certificates. She said the possibility of overseas pensioners verifying their existence via Western Union methodology is being explored.
In response to comments and questions from members the following was noted:
- Ms Adams stated that the risk register reflected the risk pertaining to overseas pensioners. She said 3 letters were sent to the pensioner, the last one by recorded delivery post, asking them to present proof of existence by returning the Life Certificate which is to be certified by persons stated in the certificate. The Fund was exploring using the Western union existence checking process which will enable overseas pensioners to go to a Western Union outlet to verify themselves in person. She said there was a nominal cost for this, but the incentive was to ensure the Fund is not paying pensions when it should not.
- Mr Thompson thanked Ms Adams for the information tables presented at paragraph 3.2 and said it was heartening to see the progress being made. He said the CIPFA performance table at paragraph 3.8 was also useful. Ms Adams responded stating she hoped to improve on the CIPFA performance targets, through appraisals and the training plan she that she was implementing.
- In respect to staffing updates, Ms Adams informed the Board that they had not recruited a Pensions Accountant however the intention was to go out to recruitment again.
The Pensions Board RESOLVED to:
Note the recommendation made to the Pensions Committee for its meeting on 13th March 2023 that:
The Pensions Committee is recommended to:
1. Note and comment on the contents of this report and appendix