Decision details

Data Quality Report (Mercers)

Decision Maker: Pension Fund Committee

Decision status: Recommendations Approved

Is Key decision?: No

Purpose:

The Fund has recently commissioned the Scheme Actuary to prepare a report in relation to the quality of the membership data for the Fund. A summary of the report's finding is provided for the Committee to note.

Decisions:

The Head of Fund informed the Committee that the Scheme Actuary had been commissioned to undertake a review of the quality of the membership data for the Fund.

 

The Committee considered a summary of the findings of the review and noted that at a whole fund level the liability impact had been estimated as slightly reduced from the previous year, reflecting the positive impact of the Fund's data work over the year. With regard to common data the Committee discussed the figures relating to missing postcodes/age queries and noted that the Local Pensions Partnership was to undertake a project to address to slight increase in 2018.

 

It was also noted that the full report had been shared with the Local Pensions Partnership with a view to addressing the areas of main concern in conjunction with the normal scheduled processes due as part of the 2019 valuation.

 

Resolved: That the findings of the Scheme Actuary in relation to the quality of the membership data of the Fund, as set out in the report presented, is noted.

Report author: Colin Smith

Date of decision: 29/03/2019

Decided at meeting: 29/03/2019 - Pension Fund Committee

Accompanying Documents: