Barnet Council to vote on WYPF appointment

Barnet Council will vote on whether to appoint West Yorkshire Pension Fund (WYPF) to administer its local government pension scheme (LGPS) at a meeting next week.

If the proposals are approved by at the council’s Policy and Resources Committee on 19 February, WYPF will take over from Capita, which has managed the scheme since 2013.

In July last year, The Pensions Regulator (TPR) issued Barnet Council with an improvement notice regarding the scheme, which has more than 27,000 members.

A subsequent TPR report said the scheme’s administration required improvements in internal controls, introduction of more detailed reports and mechanisms put in place to challenge information provided by Capita.

In October 2019, TPR claimed that the scheme was being run more effectively following the warning.

Barnet Council leader, councillor Dan Thomas, said: “We aim to provide the very best service for the many dedicated employees who serve the people of Barnet.

"The scheme is in a stronger place now following recent improvements to the service.

"We want to build on this and have appointed WYPF because of their particular expertise in running local government pension schemes.

“We thank Capita for their service and will be working with them to ensure the smooth and seamless transfer of our employee pension scheme to WYPF.”

WYPF is a member of the Northern LGPS partnership, along with the Greater Manchester, Merseyside and West Yorkshire local government pension funds.

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