Our duties include:
- arrange for the valuation of the Kent Pension Fund (the Fund). Appoint an actuary for this purpose and to provide actuarial advice when required
- comply with any orders or instructions issued by The Pensions Regulator and/or the Pensions Ombudsman. Where the order or instruction requires financial compensation or a fine to be paid from the Fund, or by any officer responsible for it, and it is due to the default, omission or otherwise negligent act of the employer, the sum concerned may be recharged to the employer
- comply with our responsibilities under stage 2 of the Internal Dispute Resolution Procedure (IDRP)
- decide how your previous service or employment is to count for pension purposes, and whether such service is classed as a ‘period of membership’
- ensure compliance with Data Protection legislation
- ensure that steps are taken to pay benefits only to appropriate beneficiaries, and to reduce the possibility of fraud
- ensure that sufficient information is issued in the form of newsletters, guides and other materials to satisfy the requirements of the Occupational Pension Schemes (Disclosure of Information) Regulations 1996
- following a members death, give beneficiaries details of their entitlement including the calculation used
- increase pensions periodically in accordance with the provisions of Pensions Increase Acts and Orders
- maintain the Fund
- notify you of decisions regarding the counting of service
- produce an annual benefit statement for you (current members only) (based on information to 31 March) (assuming receipt of correct year-end information from your employer by the stated deadline). If, for whatever reason, the year-end information is not received by that date, we will not be able to guarantee the issue of an annual benefit statement for that year
- set up and maintain records for you that contain all the necessary information for the creation of an accurate benefit calculation
- set up and maintain records for when you become a pensioner member
- when you cease employment (or membership of the scheme), we will calculate and pay the right benefits, based on your record and the termination and pay details provided by your employer.