ITEM PF12
PENSION FUND COMMITTEE –22 MAY 2009
ADMISSION BODIES
Report by Assistant Chief Executive & Chief Financial Officer
Introduction
1. This report seeks Committee approval for the most recent applications for admission to the fund. These applications for transferee admission bodies arise from outsourcing of leisure services by both Oxford City Council and South Oxfordshire District Council.
2. This report also details the closure of the Oxford Institute of Legal Practice, a scheme admitted body.
Oxford City Council
3. The City Council has outsourced its leisure services for a period of 10 years from 29 March 2009. The contract allows for an extension of a further 5 years.
4. This outsourcing will result in the TUPE transfer of some 180 staff of which approximately 111 are currently members of the Local Government Pension Scheme. Therefore the successful bidder, Fusion Lifestyle, is seeking admission to the Oxfordshire Fund.
South Oxfordshire District Council
5. South Oxfordshire District Council has re-tendered the leisure services contract from 01 April 2009 until 31 August 2014. The current provider, SOLL Leisure was unsuccessful in the re-tendering process and contract was awarded to Greenwich Leisure Limited (GLL).
GLL have sub-contracted the running of the service to NEXUS Community who are seeking admission to the fund, to provide an LGPS pension to the seven staff who have transferred.
Admission Agreements
6. In both of the above cases the admission agreements will be between Oxfordshire County Council, as administering authority, the scheme employer and the transferee admission body.
Financial and Staff Implications
7. 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.
Closure of an Admitted Body
8. The Oxford Institute of Legal Practice (OXILP) was set up in 1993, by Oxford University and Oxford Brookes University as a company limited by guarantee with charitable purposes.
9. OXILP became a scheme employer in 1995.
10. During the 2008 FRS17 exercise Oxford Brookes University informed Oxfordshire Pension Fund that the university would be absorbing OXILP as at 31 July 2008 – the date on which OXILP ceased trading.
11. Following consultation with the actuaries and legal services an agreement has been drawn up to transfer the assets and liabilities of OXILP to Oxford Brookes University.
RECOMMENDATION
12. The Committee is RECOMMENDED to
(a) approve the above applications subject to their agreeing to the terms of the Admission Agreements and this Committee being informed when the agreement is signed; and
(b) note the closure of OXILP and to approve the transfer of assets and liabilities to Oxford Brookes University.
SUE SCANE Assistant Chief Executive & Chief Finance Officer
Background papers: Nil
Contact Officer: Sally Fox Tel: 01865 797111
April 2009
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