Performance relating to key administration tasks declared in our Pension Administration Strategy and compliance with The Pension Regulator Code of Practice 14.
|Death in service||5 days||88.4%||83.9%||82.5%||84.4%||78.4&|
|Retirement estimate||10 days||98.1%||99.6%||97.8%||98.4%||92.8%|
|Actual retirement||10 days||95.8%||95.8%||97.1%||97.4%||95.2%|
|Deferred benefit||10 days||91.0%||96.5%||93.2%||79.3%||95.4%|
|Refund of contributions||10 days||95.1%||97.5%||92.7%||79.3%||97.5%|
|Transfer in||10 days||84.4%||87.6%||88.7%||90.6%||87.5%|
|Transfer out||10 days||75.7%||84.7%||97.5%||96.9%||90.9%|
|The Pensions Regulator Data Scores||2019||2020||Change %|
|Scheme Specific Data||97.3%||98.3%||+1%|
|Annual benefit Statement Compliance||2018||2019||Change %|
|Statements issued before 31 August Deadline||99.81%||99.89%||+0.05%|
|Pension Saving Statements||2017/18||2018/19||Change %|
|Statements issued before 6 October Deadline||100%||100%||-|
Despite a solid financial performance throughout the year, the economic uncertainty in the last quarter saw the North East Scotland Pension Fund’s (NESPF) total asset value reduce from £4,469m as at 31 March 2019 to £4,383m as at 31 March 2020. An overall reduction of 1.9%.
The NESPF has a diversified portfolio of assets to help spread the risk of exposure to any one investment area or stock. This has ensured the financial impact on the Fund is minimal. In order to maintain the success of the Fund, it is our duty to continue to make investment decisions from a long-term perspective and we will continue to do so in 2020/21, in what we expect to be another challenging period.
Total Fund Value
Pension Benefits Paid
Admin & Investment Costs
There are a number of bodies which recognise the work done within the Pensions industry with national awards to celebrate excellence within pension schemes. These awards wins and nominations reflect the Fund's achievements over the years.