Mr Paul Audu, Interim Head of Pensions and Treasury presented the Pensions Administration and LGPS Quarterly Update report. He said the report provided information on the administration and performance of the scheme and an update on key developments in the LGPS for the quarter to December 2023.

Mr Audu referred members to the table at paragraph 3.6 which showed performance against CIPFA targets. He said the performance had varied especially with a heavy workload. Mr Audu also referred to the legislative update set out at paragraph 3.13 onwards.

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

·       Members of the Committee had no questions for Mr Audu.

The Pensions Committee RESOLVED to:

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

2.    Note the insourcing of Tower Hamlets Homes; and

3.    Note academy conversions in the pipeline.

Mr Paul Audu, Interim Head of Pensions and Treasury presented the Pensions Administration and LGPS Quarterly Update report. He said the report provided information on the administration and performance of the scheme and an update on key developments in the LGPS for the quarter to December 2023.

Mr Audu referred members to the table at paragraph 3.6 which showed performance against CIPFA targets. He said the performance had varied especially with a heavy workload.

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

• Mr Thompson commented that it was helpful to see the performance of the Scheme against CIPFA benchmarks and said the Board would continue to have a relentless focus on the administration of the Fund.
• In reference to the insourcing of Tower Hamlets Homes, Mr Audu said this had generally been successful and that a further report would be provided to the Board.
• Mr Jones commented that previously the Board had concerns regarding I-connect, the system used by employers to upload data and asked what the status was, in employers using the software. Mr Audu responded stating that they were working with senior officers of ‘ResouceLink’ to solve issues and ensure the system to upload data was being used effectively.
• Mr Audu said they were carrying vacancies within the team. He said he was mindful of the impact this could have on the administration of the Fund. He said he would be following the human resources procedures to recruit staff.
• Mr Audu said he was aware of the voluntary redundancy scheme and the potential impact this could have on the team.

The Pension Board RESOLVED to:

1. Note and comment on the content of the report and appendix;
2. Note the insourcing of Tower Hamlets Homes; and
3. Note academy conversions were in the pipeline.