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ITEM PF17
PENSION
FUND COMMITTEE – 24 NOVEMBER 2006
LOCAL GOVERNMENT
PENSION SCHEME REGULATIONS (LGPS) – APPLICATION FOR ADMISSION AS A TRANSFEREE
ADMISSION BODY
Report by
Head of Finance & Procurement
Introduction
- This report details
the application from Barnardo’s who are seeking admission to the Local
Government Pension Scheme as a Transferee Admission Body. The Committee
is asked to approve the application.
Application for Consideration
- Children, Young
People and Families (CYPF) Directorate is carrying out a redesign of
the children’s disability service. This project will provide 3 residential
units for disabled children under Barnardo’s management.
- As a result of
this exercise approximately 19 Oxfordshire County Council staff working
at St Nicholas House will transfer to Barnardo’s management on 5 February
2007. Barnardo’s are, therefore, seeking admission to the Oxfordshire
Pension Fund as a Transferee Admission Body. The contract term is for
10 years.
- CYPF has confirmed
that it will be party to the admission body agreement.
Financial Implications
- Details of Barnardo’s
accounts have been supplied and are satisfactory in the judgement of
the Assistant Head of Finance. Barnardo’s are aware that reimbursement
of costs incurred by the County Council to draw up the agreement is
part of the admission arrangement.
- Barnardo’s are
aware that they will need to put a bond in place in accordance with
actuarial advice.
- Barnardo’s are
aware of the employer responsibilities of membership to the fund.
RECOMMENDATIONS
- The Committee
is RECOMMENDED to approve the application of Barnardo’s subject to their
agreeing to the terms of the Admission Agreement and this Committee
being informed when the agreement is signed.
SUE
SCANE
Head of Finance
& Procurement
Background
Papers: Nil
Contact
Officer: Sally Fox Tel: 01865 816080
November
2006.
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