THE FUND'S PENSIONS ADMINISTRATION STRATEGY COMES INTO OPERATION
Pensions Administration Strategy 2009
Mon Nov 23 2009
In August 2009, the Fund launched a consultation with all employers about the draft version of its new Pensions Administration Strategy (PAS). The PAS has been ratified and is now in operation.
The PAS has been developed in consultation with Scheme employers, seeking to promote good working relationships, improve efficiency and ensure agreed standards of quality in delivery of the pension administration service for all members.
The PAS:
- Details the various means of communication between the Fund and Employers.
- Sets out clear standards of service to members, by defining those Employer and Fund responsibilities in administering the Scheme.
- Re-iterates the financial obligations of scheme Employers.
- Establishes procedures to address poor administrative performance by Employers
- Details those circumstances in which the Fund will recover costs incurred as a result of poor performance by Employers.
The Fund will review this policy statement and make revisions as appropriate following a material change in its policies in relation to any of the matters contained in the strategy.
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