Issue - meetings

Vicky Jenks informed the Committee that they needed to be notified whenever an employer leaves or joins the fund. Academies have automatic rights of entry to the scheme. The importance of keeping on top of leavers was acknowledged  to make sure that any employers who leave the fund have their liabilities assessed to ensure any deficit or credit is identified. Neil Buxton added that employers exiting the scheme could negotiate with the fund regarding the payment of a deficit or credit. Andrew Felton noted that if an employer leaves the scheme without its liabilities resolved then it falls to Warwickshire County Council to pick up, so it is important that all issues are resolved beforehand. 

In response to Councillor Simpson-Vince, Vicky Jenks clarified that employers leave the scheme when no active members are left. This may occur when an employer who has a ‘closed’ arrangement, which only allows those transferring employees to have access to the scheme and is not open to new joiners.  This normally happens as a result of a TUPE transfer arrangement.  When the employee leaves the employer then they cease to be in the pension scheme and the employer ceases to have any active member in the scheme. If employers have an ‘open’ scheme with the fund, then any employees for the employer can join and leave the fund.  

Resolved:

That the committee note employers who have left the fund as they have no active members left in the scheme.

·       Vinshires Plumbing and Heating (ceased 1^st December 2020)

·       Westfield Community Development Association (ceased 30^th April 2020)

·       Nuneaton Mencap Joint Hostel (People in Action) (31^st October 2020)