Issue - meetings

EXTERNAL BUSINESS - PENSION ADMINISTRATION FOR THE FIREFIGHTERS' PENSION SCHEMES

Meeting: 26/07/2018 - West Yorkshire Pension Fund Joint Advisory Group (Item 8)

8 EXTERNAL BUSINESS - PENSION ADMINISTRATION FOR THE FIREFIGHTERS' PENSION SCHEMES pdf icon PDF 138 KB

West Yorkshire Pension Fund (WYPF) provides a shared service partnership to deliver a pensions administration for a number of Fire Authorities.

 

The report of the Director, West Yorkshire Pension Fund, (Document “C”) provides an update on business to date.

 

Recommended –

 

That the report be noted.

(Yunus Gajra – 01274 432343)

Decision:

Resolved –

 

That the report be noted.

 

ACTION: Director, West Yorkshire Pension Fund

(Yunus Gajra – 01274 432343)

 

Minutes:

West Yorkshire Pension Fund (WYPF) provides a shared service partnership to deliver a pensions administration for a number of Fire Authorities.

 

The report of the Director, West Yorkshire Pension Fund, (Document “C”) provided an update on business to date.

 

The report explained that the Fund had been chosen to provide pension’s administration to seven new fire authorities bringing the total to 14.  It was believed that this was because of national recognition of the WYPF’s expertise of providing administration services.

 

The report included performance and benchmarking revealing performance against key areas of work for the period 1 April 2017 to 31 March 2018.

 

The costs of the shared service partnerships were questioned and it was explained that charges were made as a cost per member.  The charges were not for profit and all income received was invested in staff or technology resulting in lower costs per member for all schemes administered.

 

Resolved –

 

That the report be noted.

 

ACTION: Director, West Yorkshire Pension Fund