Issue - meetings

REGISTER OF BREACHES OF LAW

Meeting: 14/09/2021 - West Yorkshire Pension Fund Pension Board (Item 17)

17 REGISTER OF BREACHES OF LAW pdf icon PDF 82 KB

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

(Document “K”) 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 2021/22 is appended to Document “K”.

 

Recommended –

 

That the report and entries on the Register of Breaches of Law, contained in the appendix to Document “K”, be noted. 

 

(Caroline Blackburn – 01274 434523

Additional documents:

Decision:

Resolved –

 

That the report and entries on the Register of Breaches of Law, contained in the appendix to Document “K”, be noted. 

 

Action: Director, West Yorkshire Pension Fund

Minutes:

The Director, West Yorkshire Pension Fund, presented a report

(Document “K”) which informed Members that, in accordance with the Public Service Pensions Act 2013, from April 2015, all Public Service Pension Schemes now 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 was 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 2021/22 was appended to Document “K”.  Members were advised that the register for 2021/22 cotained issues with Prudential discussed at the previous meeting (22 June 2021) and a list of employees that had failed to pay employee contributions by the deadine of the 21st of each month.  It was confirmed that all monies had ow been received.

 

Resolved –

 

That the report and entries on the Register of Breaches of Law, contained in the appendix to Document “K”, be noted. 

 

Action: Director, West Yorkshire Pension Fund