Laura Sharman 25 October 2019

Council makes 'significant' progress on its pension scheme

A new report has found the London Borough of Barnet has made significant progress in the way it administers its pension fund since an improvement notice was issued in July.

The report by the Pensions Regulator found improvements in internal controls and the introduction of more detailed reports.

The Regulator also identified significant improvements in record keeping standards, with around 40,000 lines of data being corrected.

Cllr Dan Thomas, leader of Barnet Council, said: 'We’re very pleased this report highlights the significant progress that has been made in relation to our administration of the Local Government Pension Scheme. We needed to get things right and it’s very encouraging the fund is now in a much better place.

'We are committed to our responsibilities as Scheme Manager and will now do everything we can to continue to build on these improvements, and provide a high-quality service to scheme members and employers.'

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