Issue - meetings

To consider the report and approve the new Pension Administration Strategy

To accept and approve the Pensions Administration Strategy

A report was submitted by the Pensions Manager, which again responded to the requirements of the Good Governance Review for every administering authority to produce and publish an administrative strategy that was accessible and achieved the requirements of the LGPS Regulations.

It was explained, as part of the preparations for the good governance project, that a draft copy of the strategy had been shared with Hymans Robertson in order to receive feedback.  It was confirmed that the Administration Strategy touched on the appropriate fields and they were of the opinion that it met all current requirements and those additional requirements that derived from the Good Governance review. It was reiterated that a draft copy of the strategy had also been submitted to the Pension Board (17/3/22) and that the recommendations of the Board were included in the final version. Following a presentation to the Board, a copy of the strategy was also shared with the fund's employers, however, no observations or feedback was received.

It was reiterated that the strategy would be reviewed annually.

Thanks were expressed for the report.

During the ensuing discussion, the following observations were made by members:

·         That the strategy responded well to the requirements of the LGPS Regulations

·         That the strategy would benefit the Pensions Unit - it would set a timetable, note responsibilities and procedures for communicating

·         That the strategy was detailed

·         The document was to be welcomed

RESOLVED to accept and approve the Pensions Administration Strategy