Circular 08-2017 – Pensions Administration Strategy
Pensions Administration Strategy
Further to our previous circular of 10 July 2015 asking for views and comments on NILGOSC’s pensions administration strategy (‘the Strategy’), please be advised that the consultation period has now ended and the Strategy has now been finalised.
A copy of the final version of the Strategy (link above) has been updated to take into account the consultation responses. Thank you to those employers who took the time to provide a response and a summary of the consultation responses can be found on the website at http://www.nilgosc.org.uk/consultation.
The purpose of the Strategy is to highlight the responsibilities of NILGOSC and the Scheme’s employing authorities when carrying out their respective Scheme functions. The Strategy sets out the service standards and performance targets for both NILGOSC, as the Scheme administrator, and for Scheme employers.
The Strategy will replace NILGOSC’s existing Service Level Agreement and will apply to all employing authorities in the Scheme. The Strategy also explains the circumstances in which NILGOSC may recharge an employing authority any additional costs arising from the authority’s level of performance or any additional costs relating to non-routine services or administration.
The implementation date of the Strategy is 1 October 2017 and a grace period of 6 months will apply to the imposition of non-statutory charges or penalties. This grace period is intended to allow employing authorities the opportunity to address the causes of any non-compliance with performance standards before any charges will be levied. An annual report showing both NILGOSC and employer performance will be issued after the first full year of implementation i.e. 31 March 2019.
The Strategy is designed to deliver a high quality pension service to scheme members and I would like to encourage all employing authorities to make me aware of any shortcomings in our pension administration service so that I can take steps to resolve the matter at the earliest opportunity. The pension administration teams will be happy to provide the necessary support and training and put in place the appropriate processes to improve the level of service delivery in the future.
If you have any queries regarding the Strategy please do not hesitate to contact me.
18 August 2017