Issue - meetings

Meeting: 24/09/2020 - Pension Fund Committee (Item 5)

5 Breaches of the Law pdf icon PDF 572 KB

To be presented by Claire Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council.

Additional documents:

Minutes:

Mrs Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council, referred to the report circulated with the agenda.

 

Mrs Lewis-Smith highlighted the following points:

  • Discrepancies in contributions outstanding had been found late on 23 September 2020; these would be investigated and brought back to the committee in November.

ACTION

Mrs Lewis-Smith

  • There had been four breaches relating to refunding employee contributions within five years of leaving the scheme. It was a requirement to report such activity as a breach. It was noted that no further action could be taken if ex-employees did not respond to correspondence.
  • One employer did not submit their annual return until late August, causing delays with issuing statements in August. They were under investigation for poor performance. Updated information on this would be brought to the November meeting.

 

The following points were discussed as a result of questions from members of the committee:

  • The outstanding contributions of £561,570.13 referred to more than one employer but not a large number.
  • The pensions team were already using report monitoring to view ex-employees still due refunds at four year and six months. It was suggested they also run reports to view potential liability for all ex-employees with unclaimed refunds.
  • There were proposals to change the legislation that requires breach reporting on five year refunds as it was acknowledged this was largely outside of the administrators control.

 

RESOLVED

Members of the committee NOTED the report bar the section on contributions which would be reviewed and brought to the next meeting.

 


Meeting: 02/07/2020 - Pension Fund Committee (Item 4)

4 Governance Compliance Statement pdf icon PDF 557 KB

To be presented by Claire Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council

Additional documents:

Minutes:

Mrs C Lewis-Smith, Pensions Administration Manager, Buckinghamshire Council, gave an overview of the report circulated with the agenda.

 

RECOMMENDATION

The Committee is asked to approve the Governance Compliance Statement.

 

RESOLVED

Members of the committee AGREED the reports recommendation.