Issue - meetings

(a)     The Committee considered and approved the updated Administration Strategy, which is attached in Appendix 1, subject to consultation with stakeholders.

(b)     The Committee delegated final minor changes, following consultation, to be made by the Head of Clwyd Pension Fund and Pensions Administration Manager, with any substantive changes being brought back to Committee for consideration.

Mr Latham introduced this report by highlighting that an administration strategy is not legally required but has been good practice albeit in recent months the Scheme Advisory Board (“SAB”) had formally advised the MHCLG that an administration strategy should be a legal requirement. The Fund has had an administration strategy for a number of years. The aim of the strategy is to outline the responsibilities for the Fund and its employers. Mrs Williams noted that the main changes related to the incorporation of new reporting with employers to replace the existing Service Level Agreements. She stressed that the requirements in the main are not new; it is how they are being communicated and reported on that is changing. It is hoped the new approach will be more convenient and efficient for both employers and the Fund, as well as helping more quickly identify if employers are equipped and able to deliver their responsibilities so assistance can be provided. Item 1.06 highlighted the key changes within the strategy.

            Mr Latham asked whether the principal employers e.g. Council and other major employers, were prepared to meet the Fund’s expectations on this matter. Mrs Williams noted that the target timescales were something that employers had to previously adhere to. However, given that the team had not previously provided reports, it was difficult to comment, as employers may not be aware whether they are complying with the timescales or not. The reports will identify whether any employers are failing to comply in any key areas.

            Councillor Bateman asked how many employers the Fund has. Mrs Williams confirmed that the Fund has around 50 employers.

RESOLVED:

(a)       The Committee considered and approved the updated Administration Strategy, which is attached in Appendix 1, subject to consultation with stakeholders.

(b)       The Committee delegated final minor changes, following consultation, to be made by the Head of Clwyd Pension Fund and Pensions Administration Manager, with any substantive changes being brought back to Committee for consideration.