Issue - meetings

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69.1.      The Board considered a report on the progress of the planned production of Annual Benefit Statements for 2018 ahead of the 31 August deadline.

69.2.      OO said that it is critical that the deadline for completion is not missed as it has been for the past three years. He said that despite one or two outstanding issues the Orbis Business Operations team has indicated confidence in meeting the deadline. Deferred members should receive their statements 2 months before the deadline as they are not dependent on end of year (EOY) returns from employers.

69.3.      The Chair asked how many additional EOY returns had been received from employers since the 26 April, particularly since the deadline was 30 April. OO said that he believed the number had gone up.

69.4.      The Chair said it was concerning that there were 105 contacts but 134 employers and suggested that employers need to all have a responsible person for ensuring that duties around the EOY returns deadlines are met. OO said that where officers have details of a contact they will chase them and offer to provide them with help.

69.5.      IG observed that officers are well aware that the deadline cannot be missed this year and that they are working very hard to ensure they meet requirements. Progress is being made against the Production Plan set out in appendix 1 and that the Board would be updated on progress on a monthly basis until the 31 August deadline. 

69.6.      RS asked whether there are any concerns about major employers, including East Sussex County Council, providing EOY returns. OO said that there are weekly updates with the Pension team to track missing returns with relevant support from the Governance team. The Chair requested that information on employer EOY returns be provided in the monthly progress updates.

69.7.      BR asked whether the ESPF is not already aware of how much employers contribute based on their monthly contributions. WN said that employers are required to provide monthly contributions to the pension scheme on the 19th of each month, but that the final employer contributions are calculated based on the EOY returns, which takes until 31^st May.

69.8.      The Chair said that the data quality of deferred members can be poor as it is not always easy to keep track of them as they move on to other employment, but it is still a requirement to collect this data.

69.9.      The Board RESOLVED to:

1) note the report;

2) request monthly updates on the progress of the annual benefit statement exercise, including confirmation of any outstanding  ...  view the full minutes text for item 69