Agenda item
PENSION FUND ADMINISTRATION, BUDGET MONITORING, PERFORMANCE INDICATORS FOR QUARTER ENDING 30 JUNE 2014 AND RISK REGISTER ACTION PLAN
Minutes:
The Finance & Systems Manager (Pensions) summarised the budget report. Expenditure for the full year is forecast to be £50,000 below budget for the reasons stated in paragraph 4.2 of the report. Late payment by one employer had been found to be due to the use of a wrong sort code. This had now been rectified.
The Communication and Public Relations Manager presented the performance report.
The Investments Manager reported that there had been no changes to the Risk Register. Members asked about the impact of the new rules for taking pension early announced in the 2014 Budget. The Investments Manager replied that these represented a risk to the funding level of the Fund and would be included in the Risk Register.
RESOLVED:
- To note the administration and management expenditure incurred for 4 months up to 31 July 2014.
- To note performance indicators and customer satisfaction feedback for 3 months to 31 July 2014.
- To note the summary performance report for period from 1 April 2011 to 31 July 2014.
- To note member roadshow events and employer training sessions undertaken to communicate the New LGPS 2014, including sample customer feedback.
- To note the Risk Register.
Supporting documents:
- Item 13 - Pension Fund Administration Report, item 30. PDF 82 KB
- Item 13 - Pension Fund Administration report Appendix 1 Summary Financial Account, item 30. PDF 18 KB
- Item 13 - Pension Fund Administration Report Appendix 1A Summary of budget variances, item 30. PDF 65 KB
- Item 13 - Pension Fund Administration report Appendix 2 Cash flow forecast to 31 March 2015, item 30. PDF 14 KB
- Item 13 - Appendix 3A - Balanced Scorecard 31st July 2014, item 30. PDF 26 KB
- Item 13 - Appendix 3B - Balanced Scorecard, item 30. PDF 442 KB
- Item 13 - Appendix 4, item 30. PDF 88 KB
- Item 13 - Appendix 5+6 Graphs, item 30. PDF 130 KB
- Item 13 - Appendix 7 - Summary Report on Emp APF performance to 31 July 2014, item 30. PDF 28 KB
- Item 13 - Appendix 7 - Annex 1 - Retirement Performance, item 30. PDF 61 KB
- Item 13 - Appendix 7 Annex 2 - Deferred Performance, item 30. PDF 62 KB
- Item 13 - Appendix 8 - Summary of LGPS roadshows Sep, item 30. PDF 170 KB
- Item 13 - Appendix 9 Risk Register, item 30. PDF 48 KB