Key Performance Indicators Process Legal Requirement (100% target) Fund Timescale (2) Target for Fund Timescale To process new member Provide information about the scheme within: 30 days of receiving 95% information e.g. creating all member 2 months from date of joining or a pension account record information 1 month of receiving jobholder information where the individual is being automatically enrolled / re-enrolled. To inform members who As soon as is practicable, and no more than 2 months from date of 30 days from date of 90% leave the scheme of their initial notification (from employer or scheme member) all necessary rights and options information available To notify the amount of 1 from date of retirement if on or after Normal Pension Age 5 days of receipt of 95% benefits payable on all necessary 2 months from date of retirement if before Normal Pension Age retirement information To notify dependant(s) of As soon as possible but in any no more than 2 months from 5 days of receipt of 95% the amount of date of becoming aware of the death, or from date of request all necessary benefits information Provide annual benefit 31st August in the same calendar year 31st August in the 100% statements to active, same calendar year pension credit and deferred pensioner
Key Performance Indicators Process Legal Requirement (100% target) Fund Timescale (2) Target for Fund Timescale To process new member information e.g. creating a pension account record Provide information about the scheme within: 2 months from date of joining or 1 month of receiving jobholder information where the individual is being automatically enrolled / re-enrolled. 30 days of receiving all member information 95% To inform members who leave the scheme of their rights and options available As soon as is practicable, and no more than 2 months from date of initial notification (from employer or scheme member) 30 days from date of all necessary information 90% To notify the amount of benefits payable on retirement 1 from date of retirement if on or after Normal Pension Age 2 months from date of retirement if before Normal Pension Age 5 days of receipt of all necessary information 95% To notify dependant(s) of the amount of benefits As soon as possible but in any no more than 2 months from date of becoming aware of the death, or from date of request 5 days of receipt of all necessary information 95% Provide annual benefit statements to active, pension credit and deferred pensioner 31st August in the same calendar year 31st August in the same calendar year 100%
Appendix-2-open-NCC-Administration-Strategy-Statement-1-January-2017.docx