The Local Pension Board of Havering Council met on Tuesday 17 September 2024 to discuss pension administration and legislation updates, review communications plans, and consider policy reviews. Key discussions included the performance of the Local Pensions Partnership Administration (LPPA), updates on the McCloud Remedy and The Pensions Regulator's General Code of Practice, and the proposed revisions to several pension fund policies.

Pensions Administration and Legislation Update

The Board received an update on the performance of the Local Pensions Partnership Administration (LPPA) for the period April to June 2024. Overall casework performance was reported at 99.0%, exceeding the Service Level Agreement (SLA) target of 95%. The contact centre maintained an average wait time of 2 minutes and 28 seconds, well within the 4-minute target. However, customer satisfaction scores for retirements remained a concern, with only 48.3% of respondents satisfied. LPPA noted that these scores related specifically to the contact centre and Havering members, and that overall satisfaction scores were trending upwards.

Significant legislative updates were also discussed, including the ongoing implementation of the McCloud Remedy, which rectifies unlawful discrimination against younger scheme members by extending underpin protections. All McCloud-flagged cases are to be reviewed by August 2025. The Board was also informed about The Pensions Regulator's (TPR) new General Code of Practice, which came into effect on 27 March 2024, introducing new governance requirements for occupational pension schemes. A gap analysis is underway to ensure compliance with this code.

Communications Plan Update

The Board reviewed the 2024/25 Communications Plan, which outlines key communications with stakeholders, methods, and frequency. The plan aims to improve understanding of the Local Government Pension Scheme (LGPS) benefits, assist scheme employers with their responsibilities, and enhance the service provided to members. It was noted that both Havering and LPPA send out communications, with plans for further updates regarding expression of wish and PensionPoint. While communications are planned monthly, back-office pressures have impacted their delivery.

Pension Committee Paper Review

Updates from the previous Pensions Committee meeting on 25 June 2024 were presented. Officers confirmed that feedback from the Local Pension Board regarding report presentation had been incorporated. The Board was informed that the fund's value had increased, and the work programme for upcoming meetings was outlined.

Policy Reviews Update

The Board considered draft revisions to several Pension Fund policies, which are scheduled for presentation to the Pensions Committee in November 2024. The policies reviewed included the Communications Policy 2024-2027, the Policy regarding the overpayment of pension following the death of a pensioner or dependant member, and the Policy for Reporting Breaches of the Law. Board members proposed amendments to the Reporting Breaches of the Law policy, including removing the term whistleblowing and rephrasing certain sentences. Further policies, the Pensions Administration Strategy and the Charging Policy, are also due for review.

Training Update Report

The Board was presented with an update on member training progress. Members were encouraged to complete all LOLA v2 training modules to help officers identify and address any skills and knowledge gaps. The report highlighted the ongoing use of the LGPS Online Learning Academy (LOLA) and the Pensions Regulator's (TPR) Trustee Toolkit as resources for professional development.

AGM Update

Provisional dates for the Annual General Meeting (AGM) were noted, and the Clerk will formalise a date based on a majority decision.