Decision Maker: Clwyd Pension Fund Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Mr Latham presented this item of the agenda but noted that Ms Robinson is leading the project. There has been good progress on the calculations and a significant number of letters have already been sent to members. They have not received any formal complaints which is a positive sign and have only received five queries from scheme members.
Mr Latham highlighted that low overall financial impact but stressed the key objective is to ensure that the scheme members are dealt with as positively as possible given the sensitivity of the issue. Mr Latham confirmed the project group have had ongoing contact with the Pensions Regulator who seems satisfied with the resolution. Mr Latham expects it to take until the end of February to complete the majority of the calculations and communications, with a small number of complex cases probably taking to the end of March. They have a call with the Pensions Regulator on 6th March and are hoping to close off the case with the TPR at that point.
Mr Latham noted a fix has been added to the payroll software which is currently being tested and they are continuing to work with the Council's payroll team on this.
Mr Everett commented that he appreciates all the work that has been completed so far and noted that the unions have been very helpful in helping the process and communication with the members.
Mrs McWilliam highlighted the latest information to the Committee. She confirmed that there are only 52 cases left to be calculated and that approximately 1,200 cases have been completed so far. They are now at the checking phase so that communications can be issued where required. She confirmed that the largest gross reduction to an annual pension was £99 per annum.
The Chairman thanked the team involved in this major project as it is on top of their day to day job. The Chairman noted the clear excellent progress has been made since the last update and that he was comforted by the fact that no complaints have been received.
(a) That the Committee noted this report.
Report author: Janet Kelly
Publication date: 01/10/2019
Date of decision: 20/02/2019
Decided at meeting: 20/02/2019 - Clwyd Pension Fund Committee