Issue - meetings

11:10

Attached at PF11 is a report which updates the Committee on recent government consultations and regulation changes and invites the Committee to approve responses to consultations on pooling guidance and pension protections on out sourcing.

The Committee is RECOMMENDED to:

(a)   approve the consultation response in respect of pooling guidance as contained in Annex 1;

(b)  approve the consultation response in respect of pension protection as contained in Annex 2;

(c)  note the changes introduced under the LGPS (Miscellaneous Amendment) Regulations 2018, and ask for a further report on the implications once the process and costs become clearer; and

(d)  note the position in respect of the cost capping mechanism and consider it further as part of the 2019 Valuation process.

(a)  approved;

(b)  approved;

(c)  noted; and

(d)  noted.

The Committee considered a report (PF11) which provided an update on recent government consultations and regulation changes and which invited the Committee to approve responses to consultations on pooling guidance and pension protections on out-sourcing.

RESOLVED: to:

(a)  approve the consultation response in respect of pooling guidance as contained in Annex 1;

(b)  approve the consultation response in respect of pension protection as contained in Annex 2;

(c)  note the changes introduced under the LGPS (Miscellaneous Amendment) Regulations 2018, and ask for a further report on the implications once the process and costs become clearer; and

(d)  note the position in respect of the cost capping mechanism and consider it further as part of the 2019 Valuation process.