Agenda item

9.1       The Board considered a report by the Chief Finance Officer introduced by Matthew Hunt, Pensions Employer Engagement Officer and Paul Linfield, Pensions Communications Manager.

9.2       The following points were highlighted to the Board:

1)    The March 2025 data as set out in the table at paragraph 2.1 of the report is not finalised due to the migration of data to Oracle.

2)    There is an upward trend of employers in the Fund in terms of payments due.

3)    From May 2024 until March 2025 there were 33 late payments of contributions out of 1,665 expected payments. Some of these were due to confusion of the dates therefore the issue is being addressed through rewriting the forms to make the dates clearer.

4)    Booking levels of Scheme Member Training noting that the dropout rate on average was 25% for each session and 98% of attendee feedback said that they had learnt something from the session.

5)    The revised communications strategy including proposed updates to reflect changes over the last 3 years such as the use of electronic systems, rebranding and training. The updated strategy sets out the gradual move to a digitally focused approach which fits with the available resources and budget.

6)    Benchmarking has been undertaken with other local authority pension fund communications strategies when drafting the updated strategy for East Sussex.

7)    The website continues to be updated with relevant and engaging information for members and employers including brand new content for members who are looking to increase their pension via Additional Pension Contributions or AVCs providing a far more detailed summary of this subject.

8)    New material has also been produced to support employers and work continues on ‘My Pension’, the online self-service website for scheme members whereby 43.5% of contributing members have registered.

9)    It is anticipated, registration with ‘My Pension’ will increase upon receipt of the Annual Benefit Statements which will require log-in to view.

9.3       The Board discussed the effect of Oracle implementation on reporting of late payments, the effectiveness of and response rate for the scheme member training sessions, the focus of the communications strategy in relation to those who are eligible but have opted out.

9.4       The Board requested that in light of new legislation regarding fairness, targeted communication is considered for those eligible but have opted out of being a scheme member and work is undertaken to achieve a greater understanding of the reasons why those who have opted out have chosen to do so. This work could also help identify any employers who have a significantly higher number of opt outs and therefore could benefit from more targeted communication.

9.5       The Board discussed the Heywood’s Standard used for some Annual Benefit Statements nationally and how the communication of the Annual Benefit Statement can ensure clear and concise wording when presented to scheme members. It was noted that there are still challenges with McCloud in terms of the Annual Benefit Statements which will need to be resolved.

9.6       The Board RESOLVED to note the report.