Pension administration strategy
61.—(1) The Committee may prepare a written statement of its policies in relation to such of the matters mentioned in paragraph (2) as it considers appropriate (“its pension administration strategy”) and, where it does so, paragraphs (3) to (7) apply.
(2) The matters are—
(a)procedures for liaison and communication with employing authorities;
(b)the establishment of levels of performance which the Committee and employing authorities are expected to achieve in carrying out their Scheme functions by—
(i)the setting of performance targets;
(ii)the making of agreements about levels of performance and associated matters; or
(iii)such other means as the Committee considers appropriate;
(c)procedures which aim to secure that the Committee and employing authorities comply with statutory requirements in respect of Scheme functions and with any agreement about levels of performance;
(d)procedures for improving communication between the Committee and employing authorities in respect of information relating to Scheme functions;
(e)the circumstances in which the Committee may consider giving written notice to such an employing authority under regulation 38(2) (additional costs arising from employing authority’s level of performance) on account of that authority’s unsatisfactory performance in carrying out its Scheme functions when measured against levels of performance established under sub-paragraph (b);
(f)the publication by the Committee of annual reports dealing with—
(i)the extent to which the Committee and employing authorities have achieved the levels of performance established under sub-paragraph (b); and
(ii)such other matters arising from the pension administration strategy as it considers appropriate; and
(g)such other matters as appear to the Committee, after consulting the employing authorities and such other persons as it considers appropriate, to be suitable for inclusion in that strategy.
(3) The Committee must—
(a)keep its pension administration strategy under review; and
(b)make such revisions as are appropriate following a material change in its policies in relation to any matters contained in the strategy.
(4) In preparing or reviewing and making revisions to its pension administration strategy the Committee must consult employing authorities and such other persons as it considers appropriate.
(5) The Committee must publish—
(a)its pension administration strategy; and
(b)where revisions are made to it, the strategy as revised.
(6) When the Committee publishes its pension administration strategy, or that strategy as revised, it must send a copy of it to each employing authority and to the Department.
(7) The Committee and employing authorities must have regard to the current version of any pension administration strategy when carrying out their Scheme functions.
(8) In this regulation references to the functions of the Committee include, where applicable, its functions as an employing authority.