Issue - meetings

The Committee had before it a report by the Director of Resources which informed the Committee of any changes to the North East Scotland Pension Fund and the Aberdeen City Council Transport Fund.

The report provided an update on the Scottish Public Pensions Agency (SPPA) Consultation which sought views on changes to the Local Government Pension Scheme (LGPS) in Scotland in respect of the LGPS statutory underpin protection to remove unlawful discrimination found by the Courts in relation to public service pension scheme ‘transitional protection’ arrangements and included the consultation response prepared by officers for information; the position in relation to Pension Fund Annual Benefit Statements, and that there had been 99.74% compliance for all benefit statements in 19/20 (active, deferred and Councillors) which was a slight decrease from the reported figure of 99.86% in 18/19, although this was attributed to the current challenging circumstances as a result of the pandemic; information on the uptake of the online system instead of paper letters and statements; the on-time completion of the fit out of Marischal Square; the online annual Financial Forum with presentations provided by the Scheme Actuary, Mercer and Fund Officers; and the completion on time of the Aberdeen City Council Transport Buy-In.

The report recommended:-

that Committee note the final outcome of the annual benefit statement project, which was completed successfully, for reassurance (3.9.2 of the report refers).

The Committee resolved:-

to approve the recommendation.

The Board resolved:-

to note the decision of the Committee.