The Local Pension Board of Havering Council met on Tuesday 17 September 2024 to review pension administration and legislation updates, discuss 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 key 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 against Service Level Agreements (SLAs) was reported at 99.0%. The contact centre maintained average wait times below the target of four minutes, with an average of 2 minutes and 28 seconds. However, customer satisfaction scores for retirements remained a concern, with a 50% dissatisfaction rate reported in the first quarter, although LPPA noted that scores were trending upwards and a comparison with other clients would be provided.

Significant legislative updates were also discussed. The McCloud Remedy, which rectifies unlawful discrimination against younger scheme members by extending underpin protections, is on track for review of all flagged cases by August 2025. LPPA is currently calculating the underpin for active members with a McCloud flag. The Pensions Regulator's (TPR) new General Code of Practice, which came into force on 27 March 2024, introduces new governance requirements for occupational pension schemes. Havering is undertaking a gap analysis to ensure compliance with this code.

The Board noted the ongoing work on the Pensions Dashboard project, which aims to provide individuals with a consolidated view of their pension information online by October 2025. LPPA is partnering with Civica and Intellica to improve data quality in preparation for this and the 2025 valuation.

Communications Plan Update

The Board reviewed the 2024/25 Communications Plan, which outlines key communications with stakeholders, including employers and members. It was noted that communications are planned to be sent monthly, but back-office pressures have impacted the release of some communications. The plan includes updates on the LGPS benefits, the 50/50 scheme, and information regarding expressions of wish and PensionPoint, the member self-service portal.

Pensions 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 the presentation of information in reports 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 was presented with draft revisions to several key pension fund policies, which are scheduled for presentation to the Pensions Committee in November 2024. These include 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 draft policies, including the removal of the term whistleblowing from the breaches policy and further grammatical review.

Training Update Report

The Board was reminded of the requirement for members to complete all LOLA v2 training modules to help identify and address any skills and knowledge gaps. The fund subscribes to the LGPS Online Learning Academy (LOLA) to support the training needs of its board members. Progress reports from LOLA are received regularly, and a CIPFA Knowledge and Skills Framework questionnaire was distributed to assess individual training needs. The Board was also encouraged to utilise the Pensions Regulator's Trustee Toolkit for further learning.

AGM Update

The Clerk confirmed that provisional dates for the Annual General Meeting (AGM) would be circulated to members for formalisation.