Issue - meetings

The Committee resolved:-

to approve the conversion of the existing Additional Voluntary Contributions scheme into a Shared Cost Additional Voluntary Contribution pension arrangement.

The Committee had before it a report by the Director of Resources which provided detail on the Shared Cost Additional Voluntary Contribution pension arrangement, and sought agreement to convert the existing Additional Voluntary Contributions (AVC) scheme provided by Prudential (in partnership with the Local Government Pension Scheme (LGPS)) into a “shared cost, salary sacrifice” version (SCAVC) to take advantage of the National Insurance Contribution savings available to both employees and the Council.

The report recommended:-

that Committee approve the conversion of the existing Additional Voluntary Contributions scheme into a Shared Cost Additional Voluntary Contribution pension arrangement.

The Committee resolved:-

to approve the recommendation.

-      COUNCILLOR YVONNE ALLAN, Convener