Issue - meetings

Neil Buxton, Technical Specialist Pensions Fund Policy and Governance presented this report which set out the consultation questions in respect of the impact of proposals to remedy the age discrimination and unlawfulness identified by the Courts to the protections afforded to some members of the Local Government Pension Scheme (LGPS) by 2015 reforms.

Changes to the fund pension scheme were introduced in 2014 by way of an underpin.  Protection was provided to members in service on 31 March 2012 and who were within ten years of normal pension age which resulted in those members being better off than those who were not within ten years of normal pension age.  The scope of the protection was therefore extended as set out in the report.  There was an overall expectation that few members would be impacted but a lot of work was required to review all the cases that had happened since 2014, including dependents and deferred pensions issued since that time and a review of transfers in and out. 

Members were requested to provide comments over a short period of a few days so that the consultation response could be updated by the 17^th September 2020 and reported to the Portfolio Holders for Customer and Transformation, and Finance and Property for approval.

Members acknowledged the large-scale administrative task that would result from the proposed changes.

Resolved

That the Staff and Pensions Committee note the consultation review and comment on the response (when shared) to the Government consultation on proposed amendments to the Local Government Pension Scheme Regulations.