Agenda item

The Head of Pensions (LGPS) noted a new appointment to the Local Pension Board, with Ian Pritchard representing Unison, who was in attendance at Committee to observe.  He reminded the Committee that Councillor A Hopgood had attended the last meeting of the Committee to present the Annual Report of the Local Pension Board detailing work undertaken by the Board. He reiterated that the Board scrutinise performance in respect of services to scheme members and are receiving updates in respect of The Pensions Regulator Single Code of Practice, with 14 codes being brought into one; as well as their regular updates in relation to key performance indicators, regulatory matters and Pension Fund breaches.  He noted the next meeting of the Board was scheduled for later today, 12 September 2024.

Councillor M Porter noted the performance figures looked very good and asked that thanks be passed to the Pensions Team for all their hard work.  She noted that while still in the 90 percent range, the performance in relation to communications acknowledging the death of a scheme member. The Head of Pensions (LGPS) explained that the performance indicator in particular started as soon as the Team were made aware of a death, however, in some cases for reasons of sensitivity, communications were intentionally delayed such where a family requests that communication waited until after a funeral.  Councillor M Porter appreciated the approach taken and reiterated her thanks to the Team for their very good performance.  The Chair agreed, noting that the approach was sensible, and understood that the Local Pension Board did scrutinise performance very carefully.

The Fund’s Advisor, Sandy Dickson of Mercer, noted that he attended a number of different Pension Funds as part of his work and that he would agree with Councillor M Porter in saying the performance figures for Durham were very strong, with scheme members experience being very important, with the figures suggesting excellent delivery locally.

Resolved:

That the verbal update be noted.