The number of public service pension schemes with all six processes that The Pension Regulator (TPR) monitors as indicators of scheme performance fell to 64 per cent in 2019 following a change in criteria.
TPR’s Public service governance and administration survey found that results were consistent with the 2018 survey for five of the six processes, with between 92 per cent and 97 per cent of schemes having these in place.
However, the proportion of schemes with documented procedures for assessing and managing risks fell from 92 per cent in 2018 to 82 per cent in 2019.
It clarified that this was likely due to a change in the question that specifically asked if schemes had their “own” documented procedures, and asked respondents to answer no if they relied on their local authority’s procedures.
As such, the fall was primarily driven by the difference in local government schemes, with 80 per cent stating they had their own documented procedures, compared to 96 per cent in 2018 saying they had documented procedures.
This follows TPR’s recent engagement report on governance and administration risks in public service pension scheme, which warned that public service…
