A new vendor tasked with overseeing Barnet Council’s pension fund has made improvements despite a legacy of “difficulties with data and records” from outsourcing firm Capita.
The West Yorkshire Pension Fund has improved its performance month on month since it took over the administration of the fund from Capita in November last year, according to a report from the board.
Council officers received positive feedback on the service provided by the new administrator from employers and members.
The results were presented Tuesday at a meeting of the board’s pension fund committee.
Pensions Director Mark Fox told advisers: “The West Yorkshire Pension Fund has been a trustee for over six months now.
“As previously reported to the committee, there have been various issues, mostly data-related, during this period. But little by little, things are improving, and things are going pretty well with them right now.
“If any issues arise, West Yorkshire is very proactive in bringing any new concerns to our attention.”
Mr Fox said a 97.7% case completion rate was “much higher” than during the final months of Capita’s tenure.
He told the committee that the retirement records of 59 members had gone missing between the data transfer from Capita to West Yorkshire. Most of them were removed for legitimate reasons, he added, but a small number needed to be updated on the West Yorkshire system.
Capita had now provided West Yorkshire with member details and the system was being updated, Mr Fox said.
“Capita has not been able to provide a real explanation as to why these members were removed, the other 13 or so,” he continued.
“The matter has been reported to the Office of the Information Commissioners and the Pensions Regulator, and once West Yorkshire has confirmed that these files have been updated, we will consider this matter closed.
“The pension regulator has responded and has indicated that it will not take any further action on this matter.”
Mr Fox said the West Yorkshire Pension Fund had produced a plan to address outstanding membership cases and data issues inherited from Capita, as well as a timetable for doing so. The first stage of the plan was completed, he added.
In response to a question from Cllr Anne Hutton (Labor, Woodhouse), Mr Fox said the West Yorkshire Pension Fund was not charging the board extra money to complete the remediation plan.
The administration of the Barnet Council pension fund, which serves more than 27,000 current and former employees, was contracted out to Capita in 2013.
He subsequently faced a range of issues, including over 6,000 ‘critical’ errors in member data, £ 1.7million in late contributions, and failure to submit a return scheme. time.
Councilors voted unanimously to award the contract to the West Yorkshire Pension Fund in February last year.
Commenting after the meeting, a spokesperson for Capita said, “We take the protection and accuracy of all of our data very seriously.
“As a result of an in-depth investigation which is now complete, the Barnet Council, the Office of the Information Commissioners and the Pension Regulator were all satisfied that no member data was lost when the scheme was established. moved from Capita to West Yorkshire Pension Fund.
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Source: www.times-series.co.uk
This notice was published: 2021-05-06 13:57:53
