URL: https://tameside.moderngov.co.uk/ieDecisionDetails.aspx?ID=2707

Decision Maker: Chief Executive of the Greater Manchester Pension Fund

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose: GMPF currently relies on an external provider, to facilitate pension payments to members residing overseas.   As part of GMPF’s ongoing commitment to ensuring operational efficiency, cost effectiveness and service excellence, officers are looking to undertake a strategic review of our current overseas payment arrangements.   Therefore, officers would like to instruct GMPF’s benefits consultant, Hymans Robertson, to undertake a review of overseas payments providers in the marketplace and provide GMPF with a report detailing the options available to it going forward. Exploring alternatives options aligns with our duty to continually test the market and secure the best possible outcomes for our members.

Content: GMPF currently relies on an external provider, to facilitate pension payments to members residing overseas.   As part of GMPF’s ongoing commitment to ensuring operational efficiency, cost effectiveness and service excellence, officers are looking to undertake a strategic review of our current overseas payment arrangements.   Therefore, officers would like to instruct GMPF’s benefits consultant, Hymans Robertson, to undertake a review of overseas payments providers in the marketplace and provide GMPF with a report detailing the options available to it going forward. Exploring alternatives options aligns with our duty to continually test the market and secure the best possible outcomes for our members. That approval is given to undertake a supplier review exercise with GMPF benefits consultant, Hymans Robertson, to independently assess the benefits of the incumbent provider and all alternative international payment providers in the market to ensure that the best interests of the Fund and members are being served.

Date of Decision: August 6, 2025