The Pensions Regulator - Governance and administration risks in public service pension schemes – engagement report
Decision Maker: Lancashire Local Pension Board
Decision status: Recommendations Approved
Is Key decision?: No
To provide members of the Pension Board with a
summarised position of the Pension Regulator's survey findings on
their engagement with 10 local government funds in relation to
governance and administration risks.
Ms Moult presented a report which summarised the findings of the Pension Regulator's survey of the governance and administration of 10 Local Government Pension Funds.
In considering the report the Board recognised that communications with scheme members was regularly reviewed by both the Pensions Team and a Process Review Group at the Local Pensions Partnership. With regard to the internal dispute resolution procedure it was noted that potentially some issues would be recorded in the Risk Register and it was suggested that in future the Board should receive an annual report summarising the type of appeal received.
It was noted that whilst Lancashire had not been included in the survey the Fund was well placed in terms of its response to each of the key areas highlighted by the Pension Regulator referred to in the report.
Resolved: That the report is noted and in future an annual report be presented to the Board with a breakdown of the number of appeals received, whether they are Stage 1 or 2 and the subject matter in order to identify any specific trends or areas of concern.
Report author: Colin Smith
Date of decision: 15/10/2019
Decided at meeting: 15/10/2019 - Lancashire Local Pension Board