Issue - meetings
LGPS Update
Meeting: 13/10/2020 - Pension Board (Item 7)
7 Review of Administration and LGPS Key Updates PDF 390 KB
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Minutes:
The Board received a report with information relating to the administration and performance of the Fund since the July meeting and key recent LGPS issues and initiatives which impact the Fund. A summary of the discussions is set out below:
The Board
– Noted (i) an update on the production of the accounts; (ii) the direction proposed relating to the new structure of the Pensions Team; and (iii) the position regarding the recruitment to the new posts of the Team Leader and the Administrator.
– Noted that since July 2020 three employers are in the process of participating in the scheme. With applications for Admitted Body status received following several contract services tenders having been conducted by schools.
– Requested regular updates on employers indicating that they wished to participate in the scheme.
– Noted that the current admission requests are pending the completion of the legal process with the Fund.
– Noted that an Internal audit of the Pensions Administration system commenced at the end of June 2020 and that the findings will be presented to Pensions Committee and Board at the earliest possible meeting once a report has been received.
– Asked that they be provided with details of the date that the Internal audit report would be ready for submission to the Pensions Committee and Board.
– Noted that such a meeting would require additional work to be added to the already substantial workload of the Interim Pensions and Investment Manager and her Team.
– Commented that if resources were not available then it must be recognised that this is a priority for the Council and could have a detrimental impact on the reputation of the Fund.
– Agreed that consideration would be given to escalating the issue if insufficient action was taken.
– Noted that the Interim Pensions and Investment Manager and her Team are daily having to address not only the essential administrative tasks but a wide range statutory deadline.
– Noted that the Chair has been very clear on the Boards concerns regarding the staffing of the Pensions Team in his regular reports to the Pensions Committee.
– Noted that the Chair is happy to take forward the Board Members concerns.
– Noted with the Boards support the issue of additional resources has started to be addressed. However, the processes and procedures within the Council to progress this have proved to be very time consuming. Also, the Council as an organisation has many challenges to be addressed but officers are working hard to deal with this.
– Noted the Pension Teams structure is in place, but the next step is to get the adverts out to commence the recruitment process.
– Noted that 4 posts are ready to go out and 5 other posts have yet to be finalised through the internal processes.
– Place on record its concern at the ongoing issues that are preventing the establishment of the Teams new structure.
– Agreed that outside of the meeting that Board Members and ... view the full minutes text for item 7
Meeting: 23/09/2020 - Pension Board (Item 5.5)
5.5 Review of Administration and LGPS Key Updates PDF 390 KB
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