London Borough of Barnet has uncovered new problems with the quality of its pensions data, according to a report to councillors.
In 2017, the fund became the first public service pension scheme in the UK to be fined by The Pensions Regulator (TPR) over its failure to submit its 2016 employer return information in time.
Administration of the fund is outsourced to Capita Employee Benefits.
This week’s report said: “Despite considerable effort to address the quality of pensions administration and some improvements made, further issues have emerged including some admission agreements and bonds not being in place.
“These are being followed up urgently.
“Data cleanse activity to date has improved data quality, but significant data quality issues remain.”
The report said that the scheme remains under scrutiny by TPR.
