Yvonne Murphy, Head of Pensions Administration, introduced a report that provided the Pension Board with monitoring information on the key performance indicators in respect of work undertaken by the administration team during the period 1 January 2021 to 31 March 2021.

The report contained exempt information. This was by virtue of paragraph(s) 3 of Part 1 of Schedule 12A of the Local Government Act 1972, i.e., information relating to the financial or business affairs of any person, including the authority holding that information.

Members raised concerns regarding the decline in service provided by Prudential to members and employers following the change to the administration platform which has resulted in significant delays in the processing of contribution and disinvestment of Funds. The Head of Pensions Administration advised that a formal complaint had been submitted to their complaints department and that Prudential had implemented a service recovery plan and self-reported to the Pension Regulator.

Resolved - That;

1 the Local Pension Board notes with concern the ongoing failure of Prudential to provide an effective service to LGPS members using their AVC facility and that a letter be sent to Prudential, signed by the Head of Pensions Administration on behalf of the Local Pension Board, reflecting their dissatisfaction that a multinational financial organisation should find itself in this operational position with adverse consequences for members.

2 having considered the report that the contents be noted.