Decision details

Adoption of Employer Pensions Policy & Scheme Discretions

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The Council is required under pension legislation to indicate the way in which it will exercise discretions as an ‘employer’ under respective pensions schemes. The Council needs to set out the exercise of its discretions in relation to the Local Government Pension Scheme and the Fire Service Pension Scheme

Decisions:

The Corporate Director – Resources reported on the discretions that applied to all employers who were members of the Local Government Pension Scheme (LGPS) and the Firefighters’ Pension Scheme (FPS).  The Council was required to have a Pensions Policy statement for the LGPS and it would be appropriate to make the same arrangements for all schemes.

 

The Report recommended the review and adoption of a pension policy statement and proposed Employer Discretions Policy for Cumbria County Council in respect of the LGPS and the FPS.  Cabinet noted that at a later date an equivalent proposal would be made in respect of pensions relating to other groups.

 

RESOLVED,    that

 

                           (a)       the requirement for the adoption of a Pension Policy Statement and note that this will be refreshed from time to time in accordance with changes to the relevant pension regulations be noted;

 

                           (b)       the recommended discretions for the Local Government Pension Scheme be adopted (as set out in appendix 1 to the report);

 

                           (c)        the recommendations for the Firefighters’ Pension Scheme be adopted (as set out in appendix 2 to the report).

 

Report author: Alan Greaves

Publication date: 02/12/2014

Date of decision: 27/11/2014

Decided at meeting: 27/11/2014 - Cabinet

Effective from: 10/12/2014

Accompanying Documents: