The Director, West Yorkshire Pension Fund, will present a report

(Document “V”) which informs Members that, in accordance with the Public Service Pensions Act 2013, from April 2015, all Public Service Pension Schemes now come under the remit of the Pensions Regulator.

Section 70 of the Pensions Act 2004 (the Act) imposes a requirement to report a matter to The Pensions Regulator as soon as it is reasonably practicable where that person has reasonable cause to believe that:

(a)  A legal duty relating to the administration of the scheme has not been or is not being complied with, and

(b)  The failure to comply is likely to be of material significance to The Pensions Regulator in the exercise of any of its functions.

A register of any breaches of the Pensions Code of Practice is maintained in accordance with the WYPF Breaches Procedure.  The Register of Breaches  2019/20 is appended to Document  “V”.

Recommended –

That the report and entries on the Register of Breaches of Law be noted. 

(Caroline Blackburn – 01274 434523)

Resolved –

That the report and entries on the Register of Breaches of Law be noted.

ACTION:       Director, West Yorkshire Pension Fund

The report of the Director, West Yorkshire Pension Fund, (Document “V”) informed Members that, in accordance with the Public Service Pensions Act 2013, from April 2015, all Public Service Pension Schemes now come under the remit of the Pensions Regulator.

Section 70 of the Pensions Act 2004 (the Act) imposed a requirement to report a matter to The Pensions Regulator as soon as it is reasonably practicable where that person had reasonable cause to believe that:

(a)  A legal duty relating to the administration of the scheme has not been or is not being complied with, and

(b)  The failure to comply is likely to be of material significance to The Pensions Regulator in the exercise of any of its functions.

A register of any breaches of the Pensions Code of Practice was maintained in accordance with the WYPF Breaches Procedure.  The Register of Breaches  2019/20 was appended to Document  “V”.

Members were advised that the entries on the Register of Breaches for 2019/20 related to either the late payment of employees’ pension contributions by employers, or non-issue of Annual Benefit Statements by the 31 August 2019 to a small number of active members.

A member raised concerns about an employer which had made late payments over a four month period and he was assured that any late payments of contributions would not affect Members’ benefits.  It was explained that the fund worked with employers to resolve any issues they faced and if necessary fines were imposed. 

Resolved –

That the report and entries on the Register of Breaches of Law be noted.

ACTION:       Director, West Yorkshire Pension Fund