Issue - meetings

Vicky Jenks (Pensions Administration Delivery Lead) introduced this report which provided details of academies and contractors that had applied to join the Pension Fund. It also gave details of an existing employer that had left the Fund for which cessation arrangements would be made. More information about these arrangements would be provided at the next meeting.

In response to Councillor Hammersley, Vicky Jenks advised that each employer was evaluated to ensure that it could cover its own assets and liabilities. When an employer left the Fund, a cessation report was produced which included details of the employer’s asset and liability level at the point of its exit from the Fund. At this stage, the PAS would ensure that money was paid to Fund if there was a deficit. Alternatively, an exit credit could be paid if the employer was in credit.

Councillor Kettle moved that the recommendations be accepted and was seconded by Councillor Tromans. This was supported unanimously by the Committee. 

Resolved:

That the Staff and Pensions Committee delegates authority to the Executive Director for Resources:

1.     To approve applications to the Pension Fund from the employers listed in Appendix 1 of the report, subject to the applications meeting the criteria set out in the Local Government Pension Scheme Regulations 2013; and

2.     To facilitate those employers listed in Appendix 1 of the report to exit the Pension Fund.