Issue - meetings
The Pensions Regulator Compliance Checklist For Tower Hamlets Pension Fund
Meeting: 24/07/2018 - Pensions Committee (Item 7)
7 The Pensions Regulator Compliance Checklist For Tower Hamlets Pension Fund PDF 90 KB
Additional documents:
Minutes:
Tim Dean, Pensions Team Leader presented a report which covers an updated Compliance Checklist for the London Borough of Tower Hamlets Pension Fund. From 1st April 2015 the Pensions Regulator (TPR) assumed responsibility for public service pension schemes and put in place codes of practice for public service pension schemes covering a number of areas relating to the management of schemes. The Code of Practice for Public Service Pension Schemes came into force from 1st April 2015 and all schemes must now consider whether they comply with the Code.
Members noted that the LBTH Pensions Fund was generally able to demonstrate good level of compliance with the Code and these were highlighted in green. There were two areas which needed further attention and was highlighted in red in a previous report was items in respect to Internal Dispute Resolution (IDRP) which relate to the need to update IDRP notes and applications form to ensure they include all required and helpful information. These documents have been updated. The other was Section H, Providing Information to Members and Others, the principal concern related to the content of Annual Benefits Statement, A review of the content of this year’s statement will be completed before being issued.
RESOLVED
To note the Code of Compliance Checklist and where further work is required and being undertaken.