Lancashire County Pension Fund – Data Quality report
Decision Maker: Lancashire Local Pension Board
Decision status: Recommendations Approved
Is Key decision?: No
The Fund has recently commissioned the Scheme
Actuary (Mercers) to prepare a report in relation to the quality of
the membership data for the Fund. This report summarises the
findings of that report.
The Head of Fund presented a report which summarised the findings of the Scheme Actuary following a review of the quality of the membership data for the Fund.
In considering the report the Board noted that given the prudent approach undertaken by the Actuary it was likely that the real figures in relation to liability impact would be lower than those set out in the report. The Board also acknowledged that whilst the report identified some areas that required attention no major concerns regarding the quality of the membership data for the Fund had been identified. It was noted that the full report would be shared with the Local Pensions Partnership with a view to addressing any issues as part of the normal scheduled processes associated with the 2019 valuation.
Resolved: That the findings of the review by the Scheme Actuary on the quality of membership data held by the Fund, as set out in the report presented, is noted.
Report author: Colin Smith
Date of decision: 29/01/2019
Decided at meeting: 29/01/2019 - Lancashire Local Pension Board