Decision details

The Head of Fund reported that in accordance with the decision of the Committee in March 2018 employers within the Fund had been consulted on the revised Pension Administration Strategy Statement (PASS) which extended the number of employer and fund performance standards to be measured and introduced charges to be levied on any scheme employer whose performance fell short of the employer performance standards.

The Committee was informed that comments received during the consultation had been addressed and a copy of the latest version of the draft was presented at Appendix 'A'. However, due to issues with the new operating model for the pension administration business introduced by the Local Pension Partnership the revised PASS would not be implemented until later in the year. It was reported that whilst the issues had resulted in a backlog of cases remedial action had been taken and priority cases cleared by the end of June and it was anticipated that the remaining cases would be cleared by the end of July. 

Resolved: That the revised Pension Administration Strategy Statement, as set out at Appendix 'A' to the report presented, is approved for publication later this year.