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

(Document “A”) which informs Members that, in accordance with the

Public Service Pensions Act 2013, from April 2015 all Public Service

Pension Schemes 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 reason 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 Law is, therefore, maintained in accordance with the Pensions Regulators requirements and WYPF Breaches Procedure. 

Recommended –

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

(Caroline Blackburn – 01274 434523)

Resolved –

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

ACTION: Director, West Yorkshire Pension Fund

The Director, West Yorkshire Pension Fund, presented a report

(Document “A”) which informed Members that, in accordance with the

Public Service Pensions Act 2013, from April 2015 all Public Service

Pension Schemes came 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 reason 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 Law was, therefore, maintained in accordance with the Pensions Regulators requirements and WYPF Breaches Procedure.

It was confirmed that the Register of Breaches 2020/21, appended to the report, had been completed and all breaches were recorded and closed.

The entries on the Register of Breaches for 2021/222, also appended to the report, reported delays with Prudential updating members accounts with contributions which had delayed the payment of some retirement benefits. Meetings had been held with the Prudential and an action plan produced to rectify the issue.   The plan resulted in some action being taken but it was felt that it was not as timely or comprehensive as necessary.  The breach was considered to be of material significance due to the number of members involved and the ongoing and prolonged rectification of the issue. As a result, it had been reported to the Pensions Regulator and a copy of that report was attached to the report as Appendix C.  The number of delayed payments stated in that report was the situation at the end of July 2021 and it was confirmed that those numbers had now reduced and the situation was being monitored. 

Resolved –

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

ACTION: Director, West Yorkshire Pension Fund