Issue - meetings

Precepting Employers' Contribution Rates

Meeting: 07/03/2022 - Pension Fund Investment Sub-Committee (Item 8)

Precepting Employers' Contribution Rates

Additional documents:

  • Restricted enclosure 2

Minutes:

Resolved:

 

That the Pension Fund Investment Sub-Committee:

 

     1.          Notes the report;

     2.          Agrees to maintaining the current funding strategy for all of the precepting employers at the 2022 valuation;

     3.          Agrees to continue to apply a long-term contribution stabilisation mechanism;

     4.          Agrees that for the three-year period beginning on 1 April 2023, the contribution rates be as follows:

i.       Stratford-on-Avon District Council and Nuneaton and Bedworth Borough Council rates to reduce by 1% p.a. over each of the next 3 years

ii.     Rates for the other five precepting employers (Warwickshire County Council, Warwickshire Police, North Warwickshire Borough Council, Warwick District Council and Rugby Borough Council) to be frozen at their current (2022/23) levels.