Miriam Adams, Interim Head of Pensions and Treasury, introduced the regular quarterly update on the pensions scheme. In particular she drew Members’ attention to the requirement to agree membership changes (Riverside Housing Association, formerly known as One Housing, and Cannon Barnet LEA becoming an Academy) as well as the proposal to extend the annual overseas existence checks to include additional checks every three years via Convera.

The Committee discussed the report and agreed the proposals and it was:

RESOLVED

1.    To note contents of the report.

2.    To agree the admission of Riverside Housing Association previously known as One Housing.

3.    To note the conversion of Cannon Barnet LEA maintained school to academy status.

4.    To agree to extend the annual overseas checks to include a once every 3 years additional check via Convera (previously known as Western Union).

Ms Miriam Adams, Interim Head of Pensions and Treasury introduced the report stating that the report provided information on 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 said the table at 3.1, page 136 showed the membership to the fund had risen slightly. The number of tasks completed and outstanding was shown in table 3.2.

In response to comments and questions from members the following was noted:

·       Mr Jones stated performance had risen compared to performance 18 months ago. He said the number of pension staff had increased and said this was a good new story that ought to be celebrated.

·       Ms Adams confirmed this and said they were looking to recruit more staff. She said she was looking to strengthen performance with a target of 70% completed tasks. She said the next quarter report would show a dip in performance, but this had been to sickness in the team.

·       Referring to the checks and balances in place for Overseas Pensioners, paragraph 3.6, Ms Adams confirmed it was an officer decision to stop a pension after a final reminder had been sent. She said a pensioner/fund member was given three months to respond to existence checks with each case being reviewed on a case-by-case basis.

·       Referring to staff who are ‘insourcing’ paragraph 3.9, Ms Adams said her team will be working with staff to ensure they know of the benefits of the pension scheme however the onus was on the employers to promote the scheme.

·       Referring to the table at paragraph 3.2, Mr Thompson suggested the ‘other’ category be looked at and be re-defined to help understand the types of queries received.

The Pensions Board RESOLVED to:

Note the recommendations made to the Pensions Committee who will consider this report at its meeting of 3rd July 2023, that:

The Pensions Committee is recommended to:

1.    Note and comment on the contents of this report and appendix.

2.    Agree the admission of Riverside Housing Association previously known as One Housing.

3.    Note the conversion of Cannon Barnet LEA maintained school to

academy status and.

4.    Agree to extend the annual overseas existence checks to include a once every 3 years additional checks via Convera (previously known as Western Union).