The report of the Director, West Yorkshire Pension Fund, (Document “B”) provides an update on West Yorkshire Pension Fund’s pensions administration activities over the last six months.
That the report be noted.
(Yunus Gajra – 01274 432343)
The report of the Director, West Yorkshire Pension Fund, (Document “B”) provided an update on West Yorkshire Pension Fund’s pensions administration activities over the last six months.
The report revealed the variety of work undertaken. Performance against key areas of work for the period 1 January to 30 June 2019 was provided. It was explained that there were only two key performance indicators (KPIs)which had not been met or exceeded. The rationale for those KPIs not being met was that monthly postings could be delayed because of the level of information which had to be queried and that delays did occur as the death of deferred members were not communicated to the fund.
A graph of current work in progress showed the volume of work in progress and a breakdown of the different funds and schemes. The results of customer feedback and employer feedback were appended to the report.
Amendments to the Annual Benefit Statements were explained and included additional options available for members. The changes had been made to provide as much information as possible to members before they retired. It was confirmed that member enquiries had subsequently reduced.
The procedure for issuing Deferred Benefit Statements was discussed and it was explained that it was expected that a surge of requests for early payment would be received as deferred members could now have benefits paid from age 55, with reductions.
The recently attained accreditation to IS027001 Information Security Management System was reported together with details of two awards, Best Administration Award, presented by Pensions Age magazine and Pension Administration Award received at the European Pension Awards.
1. That the report be noted.
2. That officers be congratulated for their excellent performance and the attainment of awards from the Pensions Age Magazine and the European Pension Awards.
ACTION: Director, West Yorkshire Pension Fund