Local democracy

Issue - meetings

SHARED SERVICE UPDATE - LINCOLNSHIRE PENSION FUND

Meeting: 31/01/2019 - West Yorkshire Pension Fund Joint Advisory Group (Item 35)

35 SHARED SERVICE UPDATE - LINCOLNSHIRE PENSION FUND pdf icon PDF 122 KB

The report of the Director, West Yorkshire Pension Fund, (Document “U”) provides an update on the West Yorkshire Pension Fund’s (WYPF) shared service partnership to provide a pensions administration service for Lincolnshire Pension Fund (LPF), which commenced on 1 April 2015.

 

Recommended –

 

That the report be noted.

 

(Yunus Garja – 01274 432343)

 

Additional documents:

Decision:

Resolved –

 

That the report be noted.

 

ACTION:       Director, West Yorkshire Pension Fund

 

Minutes:

The report of the Director, West Yorkshire Pension Fund, (Document “U”) provided an update on the West Yorkshire Pension Fund’s (WYPF) shared service partnership to provide a pensions administration service for Lincolnshire Pension Fund (LPF), which commenced on 1 April 2015.

 

The report detailed current administration issues and performance over the last six months for Lincolnshire Pension Fund.

 

The report revealed that WYPF used workflow processes developed internally to organise daily work with target dates and performance measures built into the system. The performance measures ensured tasks were prioritised on a daily basis, however Team Managers had the flexibility to re-schedule work should time pressure demand.  Performance against key areas of work for the period 1 June 2018 to 30 November 2018 were provided.

 

The information reported that almost all Key Performance Indicators (KPI’s) were being achieved and often exceeded.  Two areas of underperformance were the targets for change of bank details and monthly posting.  It was explained that although some bank details were not changed within the target all changes were actioned in time for payroll to enable pensions to be paid to the correct account.  It was suggested that the target should be amended from the current five day target to ensure all changes were processed within the payroll cycle. 

 

A Member questioned if costs accrued could be transferred back to LPF.  He was advised that the WYPF worked on costs per member and, as there were no impact on the Fund, and unless it was felt that poor performance of employer functions was causing additional cost, there would be no need to recover costs from a shared service partner.  The Administration Strategy did provide for an administration charge to employers in some specific circumstances.

 

The length of the contract with LPF was queried and it was explained that it was a five year contract with an option to extend by two years. In response to a subsequent question it was confirmed that WYPF could give notice on that contract if required.

 

Resolved –

 

That the report be noted.

 

ACTION:       Director, West Yorkshire Pension Fund