1. Introduction
The Local Government Pension Scheme (LGPS) Regulations 2013 (regulation 59) allows Pension Fund Administering Authorities to prepare and publish a Pensions Administration Strategy (PAS), the primary purpose of the PAS is to clearly define the roles and responsibilities of the Fund and scheme employers, under LGPS regulations and related legislation.
The PAS sets out the performance standards and best practice that the Administering Authority (Avon Pension Fund) and fund employers should aim to meet when conducting their scheme functions. The document defines clear roles and responsibilities.
The strategy has been developed to improve the overall standard of administration of the LGPS by the Fund. It’s intended to apply in a working partnership with fund employers and their third-party payroll providers, where assistance will be provided by the Fund, to enable employers to improve administrative performance and meet the requirements of the strategy.
The Local Pension Board have responsibility for monitoring the application of the Strategy, including performance standards and will formally report to the Pensions Committee on both.
The PAS applies to the Fund and all its current and new employers.
The PAS will be reviewed every three years as a minimum, to reflect changes to LGPS regulations and Fund policies.
Avon Pension Fund (the Fund) must regularly review its Pensions Administration Strategy and update it whenever there’s a major change in its policies that affects the strategy.