Agenda item

To receive a report reviewing the progress of actions set for 2019/20 and proposing new actions for 2020/21.

The Head of Pensions Administration and Relations introduced a report on the progress of the actions set for 2019/20 and the proposals for new actions for 2020/21.

It was noted that officers had agreed in 2019 to set actions for one year at a time only, despite the plan running from 2019 until 2022. This approach was partly in recognition of the difficulty in setting specific actions for a period of up to three years and in response to feedback that the development of key events may not be reflected in triennial action setting. Moreover, the approach is to focus only on actions which are improvements, developments and changes - business as usual actions would not be covered even though they make up the vast majority of work in the section.

It was explained that Appendix 1 showed the Fund’s progress of the desired actions for 2019/20. Most actions were complete, or would be completed in the 2019/20 period, although some had been carried forward for the reasons stated in the Appendix.

In response to a query from the Board it was noted that the Fund’s administration had been only minorly affected by Wiltshire Council’s recent IT issues. Administration was reliant mainly on a reliable internet connection and its main system was held offsite. It did, however, raise more general concerns regarding the Fund’s business continuity plan and its general resilience to It issues. It was noted that officers planned to scrutinise its software provider, Aquila Heywood, and Wiltshire Council to determine the processes and measures in place should any issues surface.

The Head of Pensions Administration and Relations was asked to comment on work regarding the regular monitoring of employer covenant strengths and monitoring of active membership numbers of small employers to prompt the start cessation discussions prior to crystallisation events. It was noted that those who had joined in the last ten to fifteen years were required to provide a guarantor upon joining the Fund, but historical employers had not always been required to do so. The Fund had experienced employers’ financial failings before but in all cases to date, a guarantor arrangement had been in place so the Fund was protected. It was recommended that officers continued its solvency analysis on the Business Plan and ensure a framework be created.

In response to a question from the Board it was noted that the analysis of GMP-related pension in payment issues and the agreement of a final approach on GMP rectification had not been completed due to delays in gaining an agreement from the Scheme Advisory Board and due to a key staff absence. The Fund was also awaiting a response from the Scheme Advisory Board which would influence what it does at policy level.  

The Board noted that the plan was ambitious in its objectives. Officers were encouraged to be clear and precise in their resource management. It was noted that the officers planned to request additional funding from the budget and had made some savings which would cover some additional resources.

Resolved

To note the Fund’s progress against the actions from 2019/20 and the proposed actions from 2020/21.