Performance
Performance and Compliance
Administration
Performance relating to key administration tasks declared in our Pension Administration Strategy and compliance with The Pension Regulator Code of Practice 14.
KPI percentages achieved for administration targets over last 5 years
| Notification | Target | 2019 | 2018 | 2017 | 2016 | 2015 |
| 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% |
Data Quality & Compliance
| The Pensions Regulator Data Scores | 2019 | 2020 | Change % |
| Common Data | 98.3% | 98.3% | - |
| 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% | - |
Finance
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.
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£4.38bn
Total Fund Value
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£56.3m
Investment Income
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£30.8m
Employee Contributions
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£110.3m
Employer Contributions
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£155m
Pension Benefits Paid
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£20m
Admin & Investment Costs
Awards
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.
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Nominations
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2018
- DB Scheme of the Year
- Pensions Administration
- Pension Scheme Innovation
- Pension Scheme Communication
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2019
- DB Scheme of the Year
- Pensions Administration
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LAPF Awards
Nominations
- LGPS Fund of the Year (Assets over £2.5bn) - 2018
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Nominations
- DB Scheme of the Year (Over £500m) - 2017
- Best Use of IT & Technology - 2017
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Wins
- Public Sector Pension Scheme of the Year - 2017
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LGC Investment
Wins
- Quality of Service - 2016