Meeting documents

Pension Fund Committee
Friday, 26 May 2006

PF260506-16

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ITEM PF16

PENSION FUND COMMITTEE – 26 MAY 2006

LOCAL GOVERNMENT PENSION SCHEME REGULATIONS (LGPS) – APPLICATION FOR ADMISSION AS A TRANSFEREE ADMISSION BODY

Report by Head of Finance & Procurement

Introduction

  1. The Vale of White Horse District Council (VWHDC) has, since last year, been exploring the potential for joint working on Revenue, Benefits and Payment Services.

    2. Application for Consideration

  2. The VWHDC has now confirmed that Capita is its preferred supplier and that Capita wishes to seek admission to the Oxfordshire Pension Fund as a Transferee Admission Body.

  3. The transfer is due to take place on 1 July 2006. The contract term will be for 7 years until 31 July 2013. This transfer will involve approximately 30 staff currently employed by the VWHDC.

  4. The VWHDC has confirmed that it will be party to the transferee admission body agreement.

    5. Financial Implications

  5. Details of Capita’s accounts have been supplied and are satisfactory in the judgement of the Assistant Head of Finance. Capita are aware that reimbursement of costs incurred by the County Council to draw up the agreement is part of the admission arrangement.

  6. Capita is aware that it will need to put a bond in place in accordance with actuarial advice.

  7. Capita is aware of the employer responsibilities of membership to the fund.

    8. RECOMMENDATIONS

  8. The Committee is RECOMMENDED to approve the application of Capita subject to it agreeing to the terms of the Admission Agreements and this Committee being informed when the agreement is signed.

SUE SCANE
Head of Finance & Procurement

Background Papers:

Contact Officer: Sally Fox Tel: 01865 816080

May 2006

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