Agenda and minutes

Apologies received for PG and BR.

Interest declared by MP. Husband would be in receipt of the Firefighters Pension Scheme. The Board were satisfied with the interest, recognising the Board was not a decision making body.

Notes of the meeting held on 06 December 2023. Attached.

The Notes of the meeting held on 06 December 2023 were AGREED.

Latest Action Log attached.

CONSIDERED the updated Board Action Log listing both Open and Closed actions. It was noted that:

• LBP089: Reporting of breaches. No new breaches had been reported.
• LBP091: Revision of the TNA. TNA received for SRR however no other responses. Action to remain open. MP reiterated the importance of undertaking necessary knowledge building.
• LPB092: Internal resourcing. Pensions Lead role recruited to with the expected new joiner anticipated to join in September. Action to remain open to monitor impact on resourcing and capacity.
• LPB093: WYPF Contract. Action had been closed, presented to the Board for noting only.

To review the register (attached).

CONSIDERED the latest version of the Board risk register, risks were discussed by exception. The following points were noted:

• LPB001a: Updated business continuity plan received from WYPF. 
• LPB001b: No further comment to note.
• LPB007: Annual benefit statement (ABS) not produced in time. WYPF had advised the Service the ABS’ would not be produced and sent by 31st August 2024. In light of this, the gross likelihood score would be changed to 5. WYPF would be reporting a breach, all affected individuals would be notified by the end of  July. HSc would share a copy of the letter with MAT and ZS to allow the Service to distribute their own internal comms. By not receiving up to date ABS statements, soon to retire scheme members would be hindered in their retirement decision making. Risk changed to ‘red’ to reflect likelihood.
• LPB010: Employer fails to deduct correct pension contributions from members.
• LPB013: Recognising the discussion under LPB007, the Board considered alterations to risk LPB013. Action: Narrative to be expanded to recognise link to LPB007. HS to discuss with ZS.
• LPB014: Court of appeal (McCloud/Sargent). The Board considered the risk prevalent, however noted the legislation in place and the challenges presented by immediate choice members. Action: Narrative to be reviewed. HS to discuss with ZS.
• LPB015: Court of appeal (O’Brien/Matthews). Risk to be kept under review whilst additional resources are onboarded, this would allow for ongoing evaluation of team capacity. 
• LPB017: Risk would remain present until resourcing concerns mitigated.
• LPB021: Insufficient resources at WYPF. HSc advised recruitment was underway to backfill vacant posts at WYPF.
• LPB022: Employer fails to enrol an employee into an appropriate pension scheme. The new risk required necessary controls to be noted. The risk focused on DDS (‘Day Duty System’) members of staff where job descriptions and contracts had not illustrated operational activity. The Board agreed to increase the gross likelihood to ‘5’, with the additional controls in place to include:
  • Service Pension Team to be included in any discussions around contractual changes and role moves at an early stage.
  • Review of existing staff contracts to be undertaken.

Action: MAT and JL to discuss further risk.

·         Risks previously assigned to ‘Shayne Scott’ would be transferred to MP as Chair.

Report attached for review.

CONSIDERED the Local Pension Board Annual Report 2023-24. The paper provided an overview of the Board’s activity in the 2023-24 Authority year. In particular, the paper addressed:

• Membership changes including the appointed of MP as the new Chair.
• The tenure of Board members, notably that of JL and BR who had both served on the Board past the four year mark. Inline with the Boards Terms of Reference, these positions on the Board require readvertisement or consideration.

Action: JL and BR to considered membership.

• Meeting attendance, in particular, the two Board meetings which had been cancelled due to the inability to achieve quorum.

No further comments noted. The Board noted the report.

Report of the Scheme Manager Attached.

CONSIDERED paper summarising current pension matters both locally and nationally which required input from the Service. In particular, the paper addressed:

2015 Age Discrimination Remedy (Sargeant)

All retirements being processed now include a ‘reformed’ and ‘legacy’ benefit option in relation to the remedy period (subject to eligibility) and the pension pack that is prepared by WYPF is accompanied by a contributions mandate to show the adjustments for contributions, tax relief and interest in relation to the two options available. The figures are run through a calculator issued by the Government Actuary Department. 

Those members who are now classified as ‘Immediate Choice’ have experienced additional delays to receiving their remedial service statements due to some additional issues raised in relation the tax treatment of interest that arises under the public service pensions remedy.  On 3 June 2024, the LGA facilitated a Teams call with Chief Fire Officers, scheme managers, and internal pension contacts to discuss the current position. A substantial update would not be expected until after the general election. HSc advised WYPF would be reviewing cases in line with the original priority timelines, WYPF would be reviewing the most recent retirements first.

Second Options Exercise (Matthews)

All those eligible for the second options exercise had been written to, including an ‘expressions of interest’ form which invites recipients to either request figures or opt out of the exercise. Over 2000 letters had been sent by the Service with over a 1000 subsequent reminder letters sent where a return had not be received. The Service had received around 650 expressions of interest forms back to date, leaving a high number of returns not received.

Additional resource has now been recruited for on a fixed term basis to support delivery of the above activities and the relevant collation of employment history and pay data for each case is currently underway.

Reporting Breaches of Law

Since the last Board meeting, no breaches had been reported.

Internal Dispute Resolution

No new complaints received since the last Board meeting.

Pension Administrator Quality of Service

The WYPF submission deadline for month end data had been brought forward in 2023 from the last day to the nineteenth day of the subsequent month. Due to an extremely high workload in the pensions administration team coupled with reduced resource, there had been occasions where the month end submission had not met the deadline. Work had been underway alongside DDaT to improve the reporting process going forward.

There had been a total of 34 FPS retirements (26 wholetime colleagues and 8 on-call colleagues. Data submissions were summarised as follows:

·         Pensionable pay data to be submitted to WYPF at least six weeks prior to retirement date; and

·         retirement pack with contributions mandate to be issued to member within five working days of receipt from WYPF.

Discussed within Scheme Mnager Update.

Latest Training Log attached.

CONSIDERED log showing the Pension Regulator (tPR) e-learning modules completed to date by Board Members. The link to current e-learning modules had been shared by HS in May and June, Board members were reminded to undertake the necessary learning. The training log would need to be updated to reflect the updated Board Membership.

To confirm that the website is up-to-date.

The Communication and Engagement Team had been tasked with updating membership on the Pension page of the website.

Action: HS to ensure LPB Minutes shared publicly on the external facing website.

The self-assessment would be completed ahead of the next Board meeting.

Attached.  To review programme and items for LPB meeting in Septemeber 2024.

NOTED indicative work programme for Board meetings up to and including December 2024.

The next meeting would take place at 14.00hours on Wednesday 11 September 2024.