Retirement Insight BUS FUND November 2013 Issue 39

Retirement

INSIGHT

November 2013
Issue 39

South Yorkshire’s own newsletter for retired members

Review of 2012 / 2013
Introduction by Gary Chapman
Head of Pensions Administration

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Welcome
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Pages 2 - 3
• Review of 2012/2013

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Pages 4 - 5
• Investment Report 2012/2013

Introduction/10 Year Annualised
Figures/Fund Account 20122013/Fund Performance/
Asset Allocation
UK Equities
16.3%

Corporate
Bonds 13.8%

Index-Linked
Gilts 36.4%

International
Equities
26.8%

Page 6
• 100th Birthdays
• New Look Payslip
• Parkinsons UK Update

Page 7
• Autumn Alert
• Smarter, Quicker, Greener, Cheaper
• Competition Winner

Page 8
• We Are Here to Help
• Pension Puzzler

During the year details of the new Local Government Pension
Scheme were gradually released through a mixture of informal
consultation and draft regulations. Although no actual regulations
were in force at the end of this review period, we now know the
core elements of the new scheme applicable from April 2014 and
have commenced planning for its implementation. For the very
latest on the new scheme visit our website at
www.sypensions.org.uk/futurelgps.
Pensions Administration continues to be delivered by our in-house team
based locally in Barnsley and I am pleased to report that the high standards
of performance against our service targets continue to be maintained. Our
staff are supported by high quality IT systems which provide instant access
to vast amounts of data to deal with both member and employer enquiries
quickly and efficiently. Included in this is our in-house developed data
cleansing and analysis tool that ensures compliance with The Pensions
Regulator’s requirements regarding data quality.
We have continued to explore ways to maximise
efficiency whilst at the same time improving
the service that we provide to our Scheme
members. During the year we have
successfully merged mailings of annual
statements as well as pensioner pay
statements and newsletters. This has
not only saved money on printing and
postage but also cut out duplicate
mailings for our members
who have more than one
job or multiple pensions
in payment.