09 Oct 2020 - Pension Fund Administration Report - Local Firefighter Pension Board

Pension Fund Administration Report - Quarter 1 July 2020 to 30 September 2020

Report from Leicestershire County Council - Pension Administrator
9 October 2020

Purpose of the Report

To inform the Fire Pension Board of fire-fighter pension administration in the quarter.

This is designed to assist the Fire Pension Board. It is also considered best practise to provide a report of this type.

Annual Benefit Statements / Year-end / Taxation Saving Statements

  1. Leicestershire County Council have issued the annual benefit statements by 31st August 2020.The pension savings statements are currently being prepared. There have been 15 cases identified for 2019 to 2020. These were issued by the deadline of 6th October 2020.
  2. Valuation 2020

  3. The Government Actuary’s Department (GAD) has issued the final 2020 valuation data specifications for FPS England. Pensions have started work on the valuation and aim to complete this prior to the hand over of administration to West Yorkshire Pension Fund. 
  4. Regulation Changes

  5. None since the last report
  6. Risk and Breaches - (Material or not)

  7. None
  8. GMP Reconciliation

  9. The total remaining cases is 5. HMRC are sending final data cuts to administrators. Pensions will check that the remaining cases have been resolved in the final data cut once this arrives.
  10. Termination of Administration

  11. The Pension Section and Nottinghamshire Fire and Rescue Service are currently working with West Yorkshire Pension Fund to move the pension administration to West Yorkshire. Data extracts have been prepared for West Yorkshire as well as supplementary information that they require. West Yorkshire have sent contracts out to all three fire authorities which have now been signed.

  12. Key Performance Indicators

    Quarter 1 July 2020 to 30 September 2020

  13. Retirement benefits notified to members within 10 days of paperwork received was achieved in 100% of cases.

    Pension payments made within 5 working days of receiving a member’s election was achieved in100% of cases.

    Death related benefits notified to dependant within 10 working days of notifications was achieved in 100% of cases.

    Death related payments made within 5 working days was achieved in 100% of cases.

Officers to Contact

Ian Howe - Pensions Manager - telephone (0116) 305 6945
Elena Johnston - Fire Pensions Team Manager - telephone (0116) 305 8216
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