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West Sussex Fire & Rescue Service Local Pension Board - Thursday, 12 December 2024 10.00 am
December 12, 2024 View on council websiteSummary
The Board discussed the administration and performance of the West Sussex Firefighters Pension Schemes and received an update on the McCloud and Matthews II projects. The Board noted the reports and did not raise any concerns.
Risk Register
The Board considered a report on the Pension Fund's Risk Register. The register had not been updated since the Board last met on 8 October 2024, and there were no significant changes to the highest risks facing the fund.
There have been limited updates to the risk commentary and direction within the risk register since the Board met in October. No new risks have been added. Risk Register Report
The Board discussed the highest risks, which are:
- A successful cyber attack
- The potential need to rework pension entitlements for members of the 2006 Special Scheme (RDS) in light of the Matthews judgment
- Changes in Government policy on the management and benefits of the scheme
Pension Administration Update
The Board received an update on the administration of the Firefighters Pension Scheme. The update covered a range of topics, including:
- The number of members in the scheme
- The performance of the administration team
- The progress of the McCloud and Matthews II projects
- The implementation of the Pensions Dashboard
- The outcome of the Scheme Return 2024
- The Consultation on inheritance tax on pensions
- The Consultation on member contributions
The Local Government Association (LGA) issue a bulletin at the end of each month which provide information about key events, changes to Regulations and guidance Appendix B - Summary of bulletins and correspondence summarises the items included.
The Board noted the report and did not raise any specific concerns.
The update is noted. Administration Report
McCloud Remedy Update
The Board received an update on the McCloud Remedy project, which is a legal requirement to fix age discrimination in public sector pension schemes. The update covered the progress of the project, the milestones that have been achieved, and the issues and risks that have been identified.
Legislative amendments are being made to the Firefighters Pension Scheme to remedy age discrimination included within previous Scheme reform. Appendix C - McCloud Highlight Report
The Board noted the update and asked if the March 2025 deadline would be met. Rachel Wood, Head of Pensions, said that she was confident it would be.
Gary Ball asked if we will hit the March 2025 deadline for McCloud. Rachel Wood explained that all indications are that we are on track to hit each milestone as they present. This was confirmed by Andy Lowe. Minutes
Matthews Remedy Update
The Board received an update on the Matthews Remedy project. The update included details of the progress of the project, the milestones that have been achieved, and the issues and risks that have been identified.
Legislative amendments are being made to the Firefighters Pension Scheme to enable FRAs to give an option to certain retained firefighters to join the Scheme. Appendix D - Matthews Highlight Report
The Board noted the report and did not raise any specific concerns.
Urgent Matters
James Diston, Branch Secretary of the Fire Brigades Union, raised a query about a former retained firefighter who had been missed off the search for ex-members in relation to the Matthews II project. Ms Wood confirmed that while the Board could discuss how to address this issue generally, individual cases would need to be discussed outside of the meeting.
James Diston said that a query has been raised by a former RDS FF who has been missed off the search for ex-members. RW confirmed that the board can discuss how we address this issue generally, but individual cases need to be discussed outside of the meeting. Minutes
Decisions to be made in this meeting
Attendees
Topics
No topics have been identified for this meeting yet.
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