Agenda item

To consider a report on administration statistics and employer compliance with end of month reporting and payment deadlines for the year 2022-23 to date, and to be advised on any complaints recorded and potential breaches of the law identified since the last meeting; and toconsider the reporting against the administration business plan for 2022-23.

The Pensions Manager presented the report on administration statistics, employer compliance with end of month reporting and payment deadlines for the year 2021-22 to date, complaints recorded, and breaches of the law identified. Attention was drawn to key updates relating to the i-Connect project, McCloud data, GMP, and tracing procurement.

With regards to the triennial valuation, it was highlighted that the actuaries had stated that the fund data was in a very good place and they expect to carry out very little verification/ correction work when the final year-end data is submitted.

The Pension Fund Manager provided an update on the breach of the law. It was advised that the Fund would not achieve its statutory deadline for publishing its annual report and accounts before 1 December 2022 (due to resource constraints at the external auditors). The breach of the law had been self-reported to the LGA and would be recorded on the breaches log but was not deemed significantly material to report to the Pensions Regulator.

Questions were raised regarding the rectification of late payments and submissions, and it was confirmed that these had all been received by year-end. Discussion took place regarding communication with the five Academies for whom Strictly Education provide payroll services,

Questions were raised regarding the complaint received and it was confirmed that this had been passed to Director of Finance to investigate through the internal complaints procedure. Discussion took place regarding a service review of Prudential and it was agreed that an update on Local Government AVC’s would be added to the workplan for consideration at a future meeting of the Board.

RESOLVED:

THAT the report from the pension administration team be noted.