We held our annual finance update on 18 June 2008. Topics covered included presentation of the annual report and accounts, preparations for the Actuarial valuation and future accounting developments. A copy of the slides used at the event is available here. If you would like printed copies, please contact Erin Savage on 0131 529 4792 or e-mail erin.savage@edinburgh.gov.uk
In March 2008 we held user groups for payroll and HR staff. Topics covered included our performance during 2007, the importance of clean data and the new Local Government Pension Scheme. You can download a copy of our performance report here, and view the slides from the presentations on clean data and the new Local Government Pension Scheme. If you would like printed copies, please contact Erin Savage by calling 0131 529 4792 or e-mailing erin.savage@edinburgh.gov.uk.
On the 4 December 2007 we held our Annual Seminar in Edinburgh's Festival Theatre. Topics covered ranged from Governance, administration performance to our corporate and socially responsible investment policy . A copy of the slides used at the presentation is available here. If you would like us to send you a printed copy, please contact Erin Savage by calling 0131 529 4792 or emailing erin.savage@edinburgh.gov.uk.
On the 4 September 2007 we held a meeting on the above topic. This was open to all employers within the fund and was an opportunity for employers to discuss and feedback their views and opinions on the changes. If you were unable to make this event a copy of the slides used at the presentation is available here. If you have any feedback on these please let us know. If you would like us to send you a printed copy, please contact Erin Savage by calling 0131 529 4792 or emailing erin.savage@edinburgh.gov.uk.
In December 2007, we carried out another employer survey to help us understand how you think we are performing. This is a valuable exercise that allows you to tell us where we can improve our service to you. Overall the results have been good, but your feedback is vital in letting us know where we can do better. Thanks to all of you that took the time to complete this. You can view the collated results here.
A
guaranteed, index-linked, final salary pension scheme is a valuable recruitment
and retention tool. Though salaries in the public sector may tend to be lower
than in the private sector, a report by the Audit Commission revealed that
it is the whole package on offer, including a guaranteed pension, that attracts
staff to the public sector:
'…few people in our survey said that pay influenced their choice of job. Instead our discussions revealed that people see pay as one part of a bigger reward package that includes pensions, bonus schemes, annual leave entitlement…'
Source: Audit Commission (2002) Recruitment and retention - a public service workforce for the twenty-first century, Audit Commission
Similarly, the Government Spending Review 2002 reported that non-pay benefits are as important as pay to public sector workers. As final salary schemes in the private sector are becoming increasingly rare, qualified and knowledgeable people are opting for the security of a job with a guaranteed pension, such as that provided by the Lothian Pension Fund.
The Audit Commission estimates the average direct cost of recruiting a member of staff is £3,456, while new staff do not become fully effective until they have been in post for a year. Offering membership of the Lothian Pension Fund to your employees can help to ensure that experienced staff stay with your organisation and hence cut down on the expenses of recruitment.
The organisational chart [power point] shows which team at Lothian Pension Fund deals with which employers.
How
can we communicate the benefits of membership to our staff?
When
should I notify you of changes in members' details?
What
are the responsibilities of the Lothian Pension Fund?
What
communication can employers expect from the Lothian Pension Fund?
How
much do employers contribute towards the Fund?
How
is the Fund's money invested and what are employers' liabilities?
Employers'
Manual [PDF]
Employers'
Manual [Word]
List
of Employers [PDF]
List
of Employers [Word]