Issue - meetings

Report of the Assistant Chief Executive, People and Organisational Development, to consider regulatory changes affecting the administration of the Local Government Pension Scheme togethe rwith relevant issues covered in circulars issued by the Local Government Pensions Committee (LGPC) and Department for Communities and Local Government (DCLG),

Ian Benson, Pensions Manager, presented the Fund administration update, which set out regulatory changes affecting the administration of the Local Government Pension Scheme together with relevant issues covered in circulars issued by the Local Government Pensions Committee (LGPC) and Department for Communities and Local Government (DCLG).

In response to a question from the Committee on the merger talks between CONEL and Enfield College, it was confirmed that the bulk transfer payment tp be agreed by the fund actuary would protect the fund against the liabilities being transferred from Enfield Council fund.

In response to a question from the Committee as to whether the number of early retirements had increased, it was agreed that Ian Benson would provide the Committee with early retirement figures for the last three years outside the meeting. It was agreed that the quarterly report on early retirements would include the equivalent reported data for the previous quarter.

The Chair emphasised the importance of the actuary’s testing of the quality of data being provided by the employing bodies for actuarial purposes. The Chair also requested information on how the Government’s Compensation arrangements in relation to the regulatory bodies’ maladministration in supervising Equitable Life impacts on fund members who contributed to the in-house Equitable Life AVC Scheme. The Chair also asked for the number of Councillors eligible to join the LGPS to be included in the next report.

In response to a question from the Chair, John Hardy, Head of Finance – Budget Management, Treasury and Pensions, confirmed that he had personally looked into the receipt of contributions from the Employing Bodies and School Payroll Providers, and confirmed that these were being received by the deadline. The Chair also asked Ian Benson to confirm as to whether the records of the consultation with the staff side were held, and to confirm that he was satisfied that appeals were conducted in compliance with all relevant guidelines; Ian Benson confirmed that this was the case in both instances.

In relation to the Compliance Statement appended to the report, the Chair requested that surveys be commenced at the earliest opportunity in order to ensure compliance. Ian Benson reported that work to implement surveys was currently underway.

RESOLVED

That the Administration Report update be noted.