Avon Pension Fund
Administered by Bath and North East Somerset Council
Administered by Bath and North East Somerset Council
Overview of the Fund
Avon Pension Fund - who is in the
Fund and who looks after them?
Even though Avon County Council was abolished in April 1996 and 4 new unitary authorities were created, the Avon Pension Fund continues to look after members of the former County Council and the new unitaries. It is now the 7th largest local authority fund in the UK and has a membership of over 60,000 with current members accounting for over 50%. At year-end the Fund value was a massive £1.4 billion - equivalent to winning Lotto every week for three years!
The Pensions Department is based in Keynsham, situated between Bristol and Bath and has nearly 40 staff looking after members´ interests. All members records are computerised and benefits calculations are too. The department has staff in benefits processing, pension payroll, systems support and development, accounts and investment monitoring, compliance, communication and training:
A large number of the staff have a wealth of experience within the Department. With the expansion of the Fund membership it has been necessary to take on some new staff. An in-house training scheme ensures that new staff are properly and efficiently trained. Staff are encouraged to study for professional pensions qualifications.
Mis-sold Pensions
The government started a review of personal pension sales in 1997 and this has caused additional work for the Department. The Fund appointed 2 extra staff to deal specifically with this work. To date, over 800 members have been re-instated in the Avon Pension Fund and over £10m received from insurance companies in re-instatement payments. In the current financial year 80 cases were processed and £1.4m received by way of re-instatement payments.
Drowning under paper?
Not the Avon Pension Fund. A document management system introduced last year has now been fully integrated, although a number of our paper files are still to be converted to images. With the implementation of this, we will be able to deliver a more efficient and effective customer service, with much improved control over our workflow.
And finally our main concern
The primary aim of the Pensions Department is to ensure accurate calculation and timely payment of all pension benefits to members of the Avon Pension Fund. The Department can be contacted on 01225 477000 or email avonpensions@bathnes.gov.uk
Even though Avon County Council was abolished in April 1996 and 4 new unitary authorities were created, the Avon Pension Fund continues to look after members of the former County Council and the new unitaries. It is now the 7th largest local authority fund in the UK and has a membership of over 60,000 with current members accounting for over 50%. At year-end the Fund value was a massive £1.4 billion - equivalent to winning Lotto every week for three years!
The Pensions Department is based in Keynsham, situated between Bristol and Bath and has nearly 40 staff looking after members´ interests. All members records are computerised and benefits calculations are too. The department has staff in benefits processing, pension payroll, systems support and development, accounts and investment monitoring, compliance, communication and training:
- 3 Benefits Teams of 5 staff each deal with processing pension benefits for staff of the 60 employers who belong to the Local Government Pension scheme. Each team has a dedicated client list of employers which ensures continuity and personal service.
- a Pension Payroll Team responsible for the payment of pensions of £61 million each year and all enquiries from pensioner members. A freephone helpline is available for pensioners use.
- a Systems Support and Development Team of 6 responsible for providing support to the benefits team, developing IT systems and making the best use of fast moving technology. Its staff also update member computer records with changes and input new starters.
- 2 accounting staff are responsible for "balancing the books".
- 2 investment officers monitor the activities and performance of the Funds 5 external investment managers.
A large number of the staff have a wealth of experience within the Department. With the expansion of the Fund membership it has been necessary to take on some new staff. An in-house training scheme ensures that new staff are properly and efficiently trained. Staff are encouraged to study for professional pensions qualifications.
Mis-sold Pensions
The government started a review of personal pension sales in 1997 and this has caused additional work for the Department. The Fund appointed 2 extra staff to deal specifically with this work. To date, over 800 members have been re-instated in the Avon Pension Fund and over £10m received from insurance companies in re-instatement payments. In the current financial year 80 cases were processed and £1.4m received by way of re-instatement payments.
Drowning under paper?
Not the Avon Pension Fund. A document management system introduced last year has now been fully integrated, although a number of our paper files are still to be converted to images. With the implementation of this, we will be able to deliver a more efficient and effective customer service, with much improved control over our workflow.
And finally our main concern
The primary aim of the Pensions Department is to ensure accurate calculation and timely payment of all pension benefits to members of the Avon Pension Fund. The Department can be contacted on 01225 477000 or email avonpensions@bathnes.gov.uk