Agenda and minutes

Apologies were received from Councillor Lamb (Vice Chair).

There were no declarations of interest.

The minutes of the meeting held on 26 February were approved as true and accurate record.

          The Committee received a report detailing the Local Government Pension Scheme (LGPS) Discretionary Policy. The report was submitted to ensure that the Council published its policy on the discretions within the LGPS in accordance with Regulation 66 of the LGPS (Administration) regulations 2008. 

Each employer within the LGPS had to prepare a written statement of its policy in relation to the exercise of its functions under four regulations:-

i)             Regulation 12 - power of the employing authority to increase total membership of active members,

ii)            Regulation 13 - power of employing authority to award additional pension,

iii)           Regulation 18 - flexible retirement and

iv)           Regulation 30 - choice of early payment of pension

The statement had to be kept under review, published for one month before commencement, and revised as necessary. Members were advised that the Council was under statutory requirement to publish and review its pension discretionary statement.

When the statement was being revised the employer had to have regard to the extent to which the exercise of any of the discretions could lead to a serious loss of confidence in the public service.

Members were advised that the joint trade unions had been consulted and the statement had been agreed at the meeting of the Joint Consultative Forum on 8 February 2010. Directors had agreed the statement as had the Council’s pension administrators at Cambridgeshire County Council.

RESOLVED: to agree to the Local Government Pension Scheme Discretionary Policy(Part A)

Business was concluded at 3.06pm.