ITEM PF23
PENSION FUND COMMITTEE – 28 MAY 2008
ADMISSION AGREEMENTS
Report by Assistant Chief Executive & Chief Finance Officer
Introduction
1. This report introduces the most recent applications for admission to the fund for transferee admission bodies and seeks Committee approval for their admission.
New Applications
United Sustainable Energy Agency (USEA)
2. West Oxfordshire District Council’s Thames Valley Energy Centre (TVEC) is currently one of around 50 organisations that form the Energy Saving Trust UK network. TVEC undertakes energy efficiency advice work across 9 council areas of Oxfordshire and West Berkshire. TVEC is merging with the Milton Keynes Energy Agency (MKEA)* on 1 July 2008 in order to meet changing Government funding and efficiency drivers.
* MKEA has changed its name to the United Sustainable Energy Agency (USEA)
3. Seven members of staff will transfer from West Oxfordshire District Council.
Stonhams
4. Cherwell Housing Trust lost the contract from Supporting People to provide floating support across Oxfordshire. The new contract was split between two organisations, one of which was Stonhams. Staff will be transferring to Stonhams on 1 March 2008.
5. Stonhams are seeking admission for the four members from 1 June 2008 but will be augmenting membership for the period between March and May.
6. Another 9 members of staff transferred to a different organisation. However, as yet no application for admission has been received.
Emmaus Oxford
7. Emmaus is a registered charity who is purchasing the furniture store which is currently run by Oxfordshire Council for Voluntary Action (OCVA) who are already an admitted body within the fund.
8. This purchase should take place on 1 May 2008 although it is possible that the date may be postponed.
9. The purchase of the furniture store will affect one employee of OCVA who will transfer to Emmaus. As a result Emmaus are seeking admittance to the fund for this single employee.
Financial and Staff Implications
10. In all of the above cases information is being sought from the actuary regarding the past and future liabilities. This information is being discussed individually with each company.
11. The Assistant Head of Finance (Shared Services) has, as normal procedure, assessed the financial documentation provided by each company to assess their financial standing.
RECOMMENDATION
12. The Committee is RECOMMENDED to approve the above applications subject to their agreeing to the terms of the Admission Agreements and this Committee being informed when the agreements are signed.
SUE SCANE Assistant Chief Executive & Chief Finance Officer
Background papers: Review of Admitted Body Status
Contact Officer: Sally Fox Tel: (01865) 797111
May 2008
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