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SYPA In Focus: Your Annual Update Video Now Available
06/12/2024
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We’re excited to launch SYPA In Focus, a new video update designed to keep you informed on SYPA’s latest developments, investment performance, and key updates from the past year. This video replaces our traditional Annual General Meeting (AGM) for 2024, making it easier than ever for members to stay connected from the comfort of home and at a time that suits you.
In preparation, we invited members to submit questions, and we’re pleased to share that these have been answered either within the video itself or in an additional Q&A document, available in the document library at the bottom of the SYPA: In Focus page here: https://bit.ly/SYPAInFocus. You’ll also find further resources, including our TCFD and Stewardship reports, which go into more detail on some of the topics covered in the video.
We encourage you to watch the update and then share your feedback through our short survey: https://forms.office.com/e/SLWF5w3kxN. Your input plays a crucial role in helping us keep members like you at the heart of everything we do.
If you have any questions, please send these into our Customer Services team by email at: customerservices@sypa.org.uk and they will arrange a response from the appropriate team.
Thank you for engaging with us as we continue to support your retirement journey.
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South Yorkshire Pensions Authority Publishes 2023/24 Annual Report
02/12/2024
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South Yorkshire Pensions Authority (SYPA) is pleased to announce the release of its audited 2023/24 Annual Report. This year’s report highlights key milestones, financial stability, and our steadfast commitment to delivering exceptional services to nearly 180,000 scheme members and 600 employers across the region.
Key Highlights from the 2023/24 Annual Report Include:
- Project Chip Completion: One of the UK’s largest agricultural land transactions, transferring over 21,000 acres into a new investment vehicle in partnership with Royal London.
- Place-Based Impact Investment Strategy: Developed with the South Yorkshire Mayoral Combined Authority to attract significant investment into South Yorkshire, driving local economic growth.
- Place-Based Impact Investment Award: Recognition at the Pensions for Purpose Awards for our strategic local investments, supporting sustainable development within South Yorkshire.
- Enhanced Administration Services: Significant strides in resolving long-term challenges and meeting member expectations through improved resources.
- External Audit Success: SYPA was one of only five local government bodies to meet the statutory deadline for signing off the 2022/23 External Audit accounts.
Councillor Jayne Dunn, Chair of SYPA, stated, "Our team’s hard work and dedication ensure that we not only meet our financial obligations but deliver real value to our members and employers. I’m incredibly proud of the progress made, from member satisfaction rates consistently above 80% to our strategic local investments that are making a tangible difference in South Yorkshire."
Alongside the Annual Report, SYPA has also published its Task Force on Climate-Related Financial Disclosures (TCFD) and Stewardship Reports, further underscoring our commitment to transparency and responsible investment practices. These reports are available on the SYPA website.
The Stewardship Report is available here and the TCFD report is available here.
To provide greater insight into this year's achievements and financials, we are launching the SYPA: In Focus video and a detailed Q&A document in place of our traditional AGM. These resources will be available on our website in early December addressing questions submitted by members.
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Mypension unavailable all day Tuesday 3rd December
02/12/2024
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Please note that our software provider is scheduled to install the latest upgrade to our administration system on Tuesday 3rd December. Therefore mypension will be unavailable while the installation takes place. The work is expected to take all day, we apologise for any inconvenience this may cause.
If you need to speak to a member of the Customer Services team please call us on 0300 303 6160 or email customerservices@sypa.org.uk
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Help Us Improve SYPA’s Digital Communications – Take Our Survey!
26/11/2024
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We want to hear from you! As part of our ongoing commitment to enhancing SYPA’s digital communications, we’re reaching out to gather your feedback. Your insights and experiences are invaluable in helping us better connect with and support you on your pension journey.
This short survey gives you the chance to share your thoughts on how SYPA communicates digitally, and it only takes a few minutes to complete. Your responses will play a key role in shaping our future communication strategies, ensuring we’re delivering the information you need in ways that work for you.
Take the
survey
Your feedback will directly inform our future plans, and we’ll share the results in our 2025 Consultation, Communications, and Engagement Strategy, on our website, and in upcoming member newsletters.
Thank you for helping us make SYPA’s services even better!
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Audited Accounts 2023/24 Publication and Notice of Delay in Conclusion of Audit
22/11/2024
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An unqualified audit opinion has been issued on the Statement of Accounts of the South Yorkshire Pensions Authority and the South Yorkshire Pension Fund for the year ended 31 March 2024. The Independent Auditor’s Report to the Pensions Authority was issued on 20 November 2024 for these accounts, however the audit certificate has not yet been issued.
The external auditor is unable to certify that they have completed the audit of the financial statements of South Yorkshire Pensions Authority for the year ended 31 March 2024 in accordance with the requirements of the Local Audit and Accountability Act 2014 and the NAO Code of Audit Practice for the following reasons:
• At the date of issuing the independent auditor’s report, the external auditor has not yet completed their work in respect of Whole of Government Accounts consolidation for the Authority for the year ended 31 March 2024.
• Under Auditor Guidance Note 07 – Auditor Reporting, issued by the NAO in November 2024, the external auditor is required to give an opinion on the consistency of the financial statements of the Pension Fund included in the Authority’s Pension Fund Annual Report with the Pension Fund financial statements included in the Authority’s Statement of Accounts. The Pension Fund Annual Report is not yet complete, so the auditor has not yet been able to do this work. It is expected that this will be completed before the required publication date for Pension Fund Annual Reports of 1 December 2024.
Once both outstanding points above have been completed and the audit certificate has been received, we will publish the audit certificate and the Notice of Audit Conclusion required by Regulation 16 of the Accounts and Audit (England) Regulations 2015 and the Accounts and Audit (Amendment) Regulations 2024.
The audited statement of accounts have now been published on the Authority’s website at:
Our Accounts
Gillian Taberner
Assistant Director – Resources & Chief Finance Officer
22 November 2024
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