A report of the Strategic Director of Finance, Governance and Support was presented to propose a report format to update the Pension Board Members regarding the administration of the Teesside Pension Fund by Kier Workplace Services.
Part of the remit of the Pension Board was to ensure good governance of the Pension Scheme and this should include ensuring members received good service and appreciated their pension benefits.
To assist the Pension Board it was proposed that the Board should receive a regular report from the provider of pension administration services (Kier) which would provide an overview of the key information regarding member experience.
It was proposed that the Pension Board received a regular report providing an overview of the key administration statistics and issues. A copy of a proposed draft report was attached at Appendix A to the submitted report for information.
The Head of Pensions explained that the report would be set out under the following headings:
Service Level Agreement Compliance.
Member Data Requirements.
In addition, it was suggested that a summary of any Local Government Association (LGA) guidance issued during the reporting period could be included.
The Head of Pensions explained that he was awaiting guidance from the Scheme Advisory Board regarding some of the reporting requirements.
AGREED as follows that:
1. The report was received and noted.
2. The reporting requirements, as set out in the proposed draft report attached at Appendix A, were agreed.