Issue - meetings
Pension Scheme Administration Update
Meeting: 18/09/2018 - Pensions Committee (Item 6)
6 Pension Scheme Administration Update PDF 85 KB
Additional documents:
Minutes:
Tim Dean, Pension Team Leader presented a report which covered the activities and performance of the Pensions Administration Team. The Committee was advised that Green Spring Academy had joined Mulberry Schools Trust from 1 September 2018 and that Accent Catering Services Limited had taken the contract for Mulberry Trust Schools and will be an Admitted Body. This is subject to contracts being agreed by Accent’s Legal Advisors.
The Pensions Administration has identified 1200 deferred members who could potentially claim payment of benefits with immediate effect. The Team has made contact with over 100 of these members. A ‘cash flow analysis’ has been carried out and potential payments are not expected to affect the Funding Level.
A data quality review is to be scheduled and will be undertaken by Altair Pensions.
Members noted that vacancies within the Pensions Administration Team was affecting its performance and was advised that the new structure which was currently being put in place would help to improve the Teams Performance Indicators. The Pensions Administration Team is now located within the Finance Service Area; there are currently Secondments within the Team.
RESOLVED
To note the information provided in the report in respect of the scheme administration and the performance metrics.