The report of the Director, West Yorkshire Pension Fund, (Document “L”) informs Members that The Pension Regulator’s (TPR) Code of Practice 14 and The Public Service Pensions (Record Keeping & Miscellaneous Amendments) Regulations 2014 set out the requirements for public sector pension funds to maintain comprehensive and accurate data on their members and their member’s pension contributions.

Recommendation

That the report be noted.

(Caroline Blackburn – 01274 434523)

Resolved –

That the report be noted.

ACTION: Director, West Yorkshire Pension Fund

The report of the Director, West Yorkshire Pension Fund,

(Document “L”) informed Members that The Pension Regulator’s (TPR) Code of Practice 14 and The Public Service Pensions (Record Keeping & Miscellaneous Amendments) Regulations 2014 set out the requirements for public sector pension funds to maintain comprehensive and accurate data on their members and their member’s pension contributions.

The Pensions Regulator (tPR) required that the scheme should:

·                Continually review their data and carry out a data review exercise at least annually

·                Where a review of scheme’s data identifies poor or missing data, a data improvement plan should be put in place to address these issues.

The report revealed that there were two types of data which should be measured and provided a definition of ‘common’ and ‘scheme specific’ data.  As a result of measuring the data a score was calculated. A data score was the percentage of members in the scheme that had been assessed as having complete and accurate common or scheme specific data.

Members were informed that WYPF had developed a Data Improvement Plan which identified and prioritised actions to be taken to improve the data. A copy of WYPFs Data Improvement Plan was appended to the report together with work planned to deal with data errors identified. 

A mistake in Appendix A was corrected and Members informed that the figure of 43,000 (Caroline sorry I missed what this figure referred to) was not a large increase but an error in the report.

Resolved –

That the report be noted.

ACTION: Director, West Yorkshire Pension Fund

The report of the Director, West Yorkshire Pension Fund, (Document “L”) informs Members that The Pension Regulator’s (TPR) Code of Practice 14 and The Public Service Pensions (Record Keeping & Miscellaneous Amendments) Regulations 2014 set out the requirements for public sector pension funds to maintain comprehensive and accurate data on their members and their member’s pension contributions.

Recommendation

That the report be noted.

(Caroline Blackburn – 01274 434523)