Pensions Policies

We have to maintain a number of policies which set out the arrangements in place to manage different aspects of the Pension Fund. These are summarised below and you can download the full documents at the bottom of the page.

The Funding Strategy Statement

Completed after each actuarial valuation this sets out the approach to setting contribution rates and recovering deficits or distributing surpluses. In essence this is the strategy for maintaining stable and affordable employer contributions and includes the Admissions and Terminations Policy. Read More

The Pensions Administration Strategy Statement

This sets out the detail of the arrangements for the administration of the Fund and the relevant service standards. It also sets out the obligations on employers within the Fund in terms of the provision of information etc. Employers are required to "sign up" to the statement when they are admitted to the Fund. The Strategy will be reviewed as specific changes to the administration arrangements are made, but as a minimum will be reviewed every three years.

The Consultation, Communications and Engagement Strategy

Our Consultation, Communications and Engagement Strategy outlines our objectives of providing clear and comprehensive information to members and employers, and how we currently meet those objectives and any risks we may face in achieving these. The policy also sets out our aims for the continual development and improvement of our methods of communication with scheme members, employers and other key stakeholders. This will be reviewed as needed, but as a minimum every two years.

The Discretions Policy Statement

This sets out the framework within which the Authority will make decisions over which the Pensions Regulations give it discretion. This will be reviewed if there is a change in regulations and as a minimum every three years.

Pensions-Policies

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File

Date

Size

SYPA Discretions Policy Statement

20/10/2023

599 K

DOWNLOAD

SYPA Consultation, Communications and Engagement Strategy Jan 2023

20/06/2023

296 K

DOWNLOAD

SYPA Governance Compliance Statement 2021

24/01/2022

938 K

DOWNLOAD

SYPA Pension Administration Strategy July 2020

19/01/2022

472 K

DOWNLOAD

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Pensions Policies

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