Meeting documents

Pension Fund Committee
Friday, 25 August 2006

PF250806-19

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ITEM PF19

PENSION FUND COMMITTEE – 25 AUGUST 2006

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

Report by Head of Finance & Procurement

Introduction

  1. This report seeks retrospective approval for the admission of SOLL VALE to the Oxfordshire Pension Fund. A number of delays in finalising the admission agreement with SOLL VALE meant that the officers subsequently omitted to obtain appropriate Committee approval to this arrangement.

    2. Application for Consideration

  2. Vale of White Horse District Council, in September 2004, outsourced its leisure centre services. The successful contractor was SOLL Leisure, a company which already has an admission agreement with the Oxfordshire Pension Fund (admission was in 1998 following the outsourcing of South Oxfordshire’s leisure services). For the purposes of this contract another company (SOLL VALE) was set up.

  3. This outsourcing affected 20 members of staff, who have continued contributing to the Local Government Pension Scheme.

    4. Financial Implications

  4. Details of SOLL Leisure accounts have been supplied and were judged satisfactory by the Assistant Head of Finance. SOLL Leisure is aware that reimbursement of costs incurred by the County Council to draw up the agreement is part of the admission arrangement. It is also aware of the employer responsibilities arising from membership of the fund.

  5. Members will note that the September 2004 outsourcing pre-dates this Committee’s policy of requiring a bond to be put in place by the contractor. The absence of such a bond implies that the Vale of White Horse District Council will act as guarantor of the company’s performance in terms of meeting the pension liabilities of the transferring staff.

    6. RECOMMENDATION

  6. The Committee is RECOMMENDED to approve the retrospective application of SOLL Vale subject to its 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, Pensions Administration Manager Tel. (01865) 816080

August 2006

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