Agenda item

Report of the Assistant Director, Human Resources, to provide the Committee with a pensions administration update.

The Committee considered the administration report, presented by Janet Richards, Pensions Manager.

The Committee noted the non-material breach in respect of the publication of the annual benefit statements for active members of the scheme, which had been reported to the Pensions Regulator. The report also set out the forthcoming launch of the new pensions website, including self service, new employers seeking Admission Body Status and the Tell Us Once Service, whereby the Council would be automatically notified of a death at the point of a death being registered, where this had been agreed by the next of kin.

In respect of new employers seeking admission body status, the Committee asked about the safeguards in place in the event that a company ceased trading, having been admitted as an Admission Body to the Fund. It was reported that a cessation valuation would be undertaken in this instance and any outstanding funds owed would be recovered. Some Admission Bodies entered into a bond for this purpose, however this did not apply to all admission agreements. It was noted that the actuary assessed the contribution rates for new employers admitted to the scheme and that these would be at a rate relative to the risk of a business failing – it was also noted that, in the event of a firm going out of business, it would be expected that another firm would take the contract over to continue to deliver the service in question, for example school catering.

RESOLVED

i)             That the Committee note:

a)    That a report to the Pensions Regulator was sent regarding a ‘non-material’ breach and the actions being taken to rectify the position.

b)    That the Section 151 Officer agreed on behalf of the Pension Committee the entry of Lunchtime Company Limited as an Admission Body into the Council’s Pension Scheme in respect of their catering service contract with the Governing Body of Earlsmead School starting on 1 January 2016.

c)    The new web address of the pensions website.

d)    The impending launch of the new ‘Tell Us Once’ service.

ii)            That the Committee agree:

a)    That the catering contractor Pabulum Catering Limited be admitted to the Council’s Pension Scheme as an Admission Body in relation to the provision of catering under contracts with the Governing Bodies of each of the following schools:

i)             Tetherdown School

ii)            Lea Valley Primary School

iii)           St Peter in chain RC Infants School

iv)           Belmont Infant School

v)            Belmont Junior School

vi)           Alexandra Primary School

vii)         St Martin of Porrs RC Primary School

viii)        Earlham Primary School

ix)           St John Vianney School

x)            South Harringay School

Subject in each case to the contractor entering into an admission agreement with the Council in respect of the particular contract. The reason being Pabulum Catering Limited is entering into catering service contracts with the Governing Bodies of the above schools.

b)    That admission agreements satisfactory to the Council be entered into in respect of each of the above contracts, and that the agreements are closed agreements, such that no new members can be admitted.

c)    That the catering contractor Absolutely Catering Limited be admitted to the Council’s Pensions Scheme as an Admission Body, in relation to the provision of catering under a contract with Trinity Primary Academy, subject to the contractor entering into an admission agreement with the Council in respect of the contract. The reason being Absolutely Catering Limited is entering into a catering service contract with Trinity Primary Academy.

d)    That an admission agreement satisfactory to the Council be entered into in respect of the contract, and that the agreement is a closed agreement, such that no new members can be admitted.