The Director, West Yorkshire Pension Fund (WYPF), will present Document “Z” which contains Not for Publication Appendix 2, which reports that WYPF takes part in the CIPFA Benchmarking Club for Pensions Administration.  The report provides information about the costs of WYPF’s pensions administration service and compares those costs with other Local Government Pension  Schemes funds who are part of the CIPFA Benchmarking Club.

Recommended –

That the report be noted.

(Yunus Gajra – 01274 432343)

Resolved –

1.    That the report be noted.

2.    That the Director, West Yorkshire Pension Fund, be asked to provide a progress report on the request to undertake detailed work to implement the recommendation contained in Paragraph 4.1 of Not for Publication Document “O” (2018/19) made at the meeting on 1 November 2018.

ACTION:       Director, West Yorkshire Pension Fund

The Director, West Yorkshire Pension Fund (WYPF), presented Document “Z” which contained Not for Publication Appendix 2, which reported that WYPF had taken part in the CIPFA Benchmarking Club for Pensions Administration. 

The report provided information about the costs of WYPF’s pensions administration service and compared those costs with other Local Government Pension  Schemes funds who were part of the CIPFA Benchmarking Club and that was the reason for the restrictions to the publication of the appendix to the report. 

Document “Z” concluded that WYPF’s unit costs were one of the lowest across all pension funds.  Member surveys revealed good levels of satisfaction from different categories of members. The Fund continued to win awards over the years for quality of service and best administration. Overall the administration service was considered effective and low cost, however, the Fund would continue to seek efficiencies and savings to squeeze costs further. 

The levels of experience and qualifications revealed in the report was commended and favourable comparisons between the level of staff turnover and costs of the Fund were welcomed.  In relation to levels of pay revealed in the report it was requested that a progress report on the WYPF Revised Budgets 2018/19, discussed at the meeting on 1 November 2018, be provided.  

Resolved –

1.    That the report be noted.

2.    That the Director, West Yorkshire Pension Fund, be asked to provide a progress report on the request to undertake detailed work to implement the recommendation contained in Paragraph 4.1 of Not for Publication Document “O” (2018/19) made at the meeting on 1 November 2018.

ACTION:       Director, West Yorkshire Pension Fund