Update on LPP Pension Administration Service
Decision status: Recommendations Approved
Is Key decision?: No
(Exempt information as defined in Paragraph 3 of Part 1 of Schedule 12 A of the Local Government Act 1972. It was considered that in all the circumstances of the case the public interests in maintaining the exemption outweighed the public interest in disclosing the information).
The Head of Fund reminded the board that a stabilisation plan was in place in relation to the pension administration service. The Board noted that there had been an improvement in performance but recognised that there was still further work to be done.
1. That the Board continue to receive updates on the pension administration service.
2. That arrangements be made for the Board to be given a briefing on the responsibilities of shareholders and the role/structure of the Local Pensions Partnership, Local Pensions Partnership Investments and the pension administration service.
Date of decision: 15/10/2019
Decided at meeting: 15/10/2019 - Lancashire Local Pension Board