Issue - meetings

The Committee noted this report.

Mr Latham presented a report on an issue affecting payments to Clwyd Pension Fund members due to the incorrect calculation of CARE pay by an employer in the Fund. The report included the agreed principles on how the issue will be resolved and communicated.

There are several versions of letters that the Fund are sending out to members. Mr Latham hoped that letters would begin to be sent out a week after the Committee meeting.

Mr Latham had spoken to the Pension Regulator on this matter where they have asked for an update to the project on a monthly basis.

Mr Hibbert asked whether it has been identified as a software problem that affects other employers in the Fund. It was confirmed this has not affected other employers in the Fund.

Cllr Jones asked whether the Fund will be preparing their Press team to respond to anything once the issue becomes “public”. Mr Everett said that he will give it some thought and deal with it appropriately although his view was that it is not affecting the public interest.

Cllr Bateman questioned whether he had any ideas of final costs to the Fund. Mrs McWilliam said that final costs are not yet available but work to date shows only very small total impact.

The Chairman concluded that it was good to see that the work was progressing well. It obviously is still very worrying and he supposed next few weeks would be key in understanding how the Fund’s scheme members are responding to the news.

RESOLVED:

The Committee noted this report.