Agenda and draft minutes

Local Pension Board - Tuesday, 30th March, 2021 4.00 pm

Venue: Virtual Hearing

Contact: Luke Phimister 01708 434619  Email: luke.phimister@onesource.co.uk

Items
No. Item

54.

CHAIR'S ANNOUNCEMENTS

The Chair will announce details of the arrangements in case of fire or other events that might require the meeting room or building’s evacuation.

 

Minutes:

The Chair reminded memebrs what to do if they conection with the call is interupted.

55.

APOLOGIES FOR ABSENCE

(if any) – receive.

Minutes:

There were no apologies for absense.

56.

DISCLOSURE OF INTEREST

Members are invited to disclose any interest in any items on the agenda at this point of the meeting.

 

Members may still disclose any interest in an item at any time prior to the consideration of the matter.

 

Minutes:

There were no disclosures of interest.

57.

MINUTES OF THE MEETING pdf icon PDF 169 KB

To approve as correct the minutes of the meeting held on 21st January 2021 and authorise the Chair to sign them.

 

Minutes:

The minutes of the previous meeting held on 21st Januray 2021 were agreed as a correct record and, due to COVID-19, will be signed by the Chairman at a later date.

58.

LPP QUARTERLY PERFORMANCE REPORT pdf icon PDF 3 MB

Documents attached.

Additional documents:

Minutes:

The Board was presented with a report from LPP on the Pension Fund’s quarterly performance.

 

Members noted that casework performance against the SLA was at 100% for the quarter, there were no outliers in the current quarter for elapsed days between receiving and completing casework and the average wait time to contact the helpdesk had dropped and less than 3% of calls were abandoned. The Board members also noted that the helpdesk received a satisfaction rate of 100% for calls and over 87% for emails over the quarter. Members were pleased to note the Pension Fund received a 92.2% accuracy rating when collecting data.

 

The Board noted that CIVICA had successfully bid to acquire the pension’s admin system and the change would be implemented in the following year with a 6 week scoping phase. The first transfer of clients was going to be undertaken in January 2022 with new system going live for London Borough of Havering scheme members in September 2022.

 

The Board noted the report.

59.

RISKS REGISTER pdf icon PDF 895 KB

Document attached

Minutes:

The Board were presented with the updated risk register as agreed at the March Pensions Committee. Members noted that the cyber security risk has been added with the new CIVICA system data transfer to be added as a risk and this to be brought to the next Local Pensions Board meeting.

 

The Board noted the register.

 

60.

LGPS LEGISLATION UPDATE

Verbal update to be given

Minutes:

The Board were updated on the legislation update of the LGPS. Members of the Board noted that 1 member had been affected by the £95k cap and that benefits have since been adjusted to reflect the revocation of the regulations. Members also noted that a new exit payments cap consultation will be taking place and it is possible that new regulations will be in force by the end of the year.

61.

COP14 COMPLIANCE CHECKLIST pdf icon PDF 195 KB

Documents attached

Additional documents:

Minutes:

The Board members were advised that the Cop14 checklist was to be moved to a single code for all pensions’ schemes with this currently being in consultation phase.

 

Training - Members suggested at every other meeting to be shorter with training after.

 

62.

DATA IMPROVEMENT PLAN

Verbal update to be given

Minutes:

Members noted the data improvement plan would be taken to the next Pensions Committee meeting for approval.

63.

COMMUNICATIONS CAMPAIGN pdf icon PDF 411 KB

Document attached

Minutes:

Members of the Board received the Communications Campaign. Members noted that comms had been sent to external paid employers with similar comms following shortly to internally paid employers. The Pensions seminar with schools was via zoom due to the COVID-19 pandemic. Members note there had been no major changes to the campaign for the upcoming year.

64.

POSITION OF CHAIR

Verbal update to be given

Minutes:

The Board members discussed the potential of introducing an independent Chair of the Board. It was noted that the terms of reference would need amending with delegated power given to the Monitoring Officer after consultation with the S151 and Cabinet Member for Value. Members also noted the position would be advertised through social media and newsletters.

 

The Board were keen on the idea of an independent Chair and agreed to implement one.

65.

TO RECEIVE FEEDBACK FROM RECENT MEETINGS OF THE PENSIONS COMMITTEE

Minutes:

The Board noted from the minutes of the previous Pensions Committee meeting that there had been a 60% increase in admin fees over the previous 2 years.