Agenda item

A report presents the officers review of the Wiltshire Pension Fund’s compliance with the Regulators Code of Practice.

The Board is asked to note the outcome from this review of the tPRs Code of Practice No. 14 and recommend the implementation of the proposed actions to the Pension Fund Committee to ensure the Fund secures compliance with this guidance. 

A report presented the officers’ review of Wiltshire Pension Fund’s compliance with the Regulators Code of Practice and the Chairman reminded members that this was a key responsibility of the Board. The Code set out the legal requirements and practical guidance in relation to the governance and administration of public service pension schemes in four key areas: Governance, Managing Risks, Administration and Resolving Issues. Officers considered that the Fund was compliant in most areas and actions were in place for areas of partial compliance. Key areas highlighted by the review were scheme record keeping and the provision of information to scheme members. Actions identified and anticipated timeframes were detailed in the appendix and officers planned to review the implementation of the required changes at the end of 2016. It was noted that the Fund had previously reported to the Committee and this Board that Annual Benefit Statements had been distributed 4 days after the 31 August deadline in 2015 due to a printing problem and this was the highest priority for 2016.

Following questions from members it was confirmed that employers within the Fund could find details of its current priorities and forthcoming priorities in its technical newsletter.

Resolved:

To note the outcome from the review of the tPRs Code of Practice No. 14 and recommend the implementation of the proposed actions to the Pension Fund Committee to ensure the Fund secures full compliance with this guidance.