Agenda item
PENSION FUND ADMINISTRATION - BUDGET MONITORING 2014/15, PERFORMANCE INDICATORS FOR QUARTER ENDING 31 DECEMBER 2014 AND RISK REGISTER
Minutes:
The Finance & Systems Manager (Pensions) presented the finance report. The headlines were:
- net expenditure forecast to be under budget
- directly controlled administration budget forecast to be £120,000 below budget partly due to temporary partial secondment of the payroll manager and support officer to the Council’s payroll section
- savings were forecast on communications budget because of greater use of digital technology
- non-directly controlled budget forecast to be £440,000 under budget
- Filton Town Council was the only late payer; their payroll has been taken over by South Gloucestershire, which should lead to improvements.
The Pensions Benefit Manager presented the performance report. The highlights were:
- a marginal increase in new work cases for the third consecutive quarter
- internal processes being revised enabling workload to be managed more effectively
- a programme of training events has been undertaken to guide Fund and scheme employers through the first year-end process for CARE scheme
- 75% of employees now covered by electronic employer self service
A member asked if checks were made to ascertain that pensioners of the Fund resident overseas were still living. This was important, because it could be difficult to recover money from other jurisdictions. The Pensions Benefit Manager replied that payments overseas were made through Western Union, who carried out such checks on the Fund’s behalf.
RESOLVED to note:
- Administration and management expenditure for 10 months to 31 January 2015;
- Performance Indicators and Customer Satisfaction feedback for 3 months to 31 December 2014;
- Summary Performance Report for period from 1 April 2011 to 31 December 2014;
- Risk Register.
Supporting documents:
- Item 18 - Pension Fund Administration Report, item 62. PDF 77 KB
- Item 18 - Appendix 1 Summary Financial Account, item 62. PDF 19 KB
- Item 18 - Appendix 1A Summary of budget variances, item 62. PDF 71 KB
- Item 18 - Appendix 2 Cash flow forecast to 31 March 2015, item 62. PDF 14 KB
- Item 18 - Appendix 3A - Balanced Scorecard, item 62. PDF 40 KB
- Item 18 - Appendix 3B Balanced Scorecard Graphs, item 62. PDF 323 KB
- Item 18 - Appendix 4 Customer Feedback, item 62. PDF 292 KB
- Item 18 - Appendix 5 & 6 Actives, Joiners, Leavers, item 62. PDF 244 KB
- Item 18 - Appendix 7 - Summary Report on Emp APF performance to 31 December 2014 (, item 62. PDF 72 KB
- Item 18 - Appendix 7 - Annex 1,2 & 3 Summary Report, item 62. PDF 165 KB
- Item 18 - Appendix 8 Risk Register, item 62. PDF 21 KB