Issue - meetings

The Committee had before it a report by the Director of Resources which sought approval for the Fund to enter into a Deferred Debt Arrangement with the employer outlined in the report to allow them to exit the pension scheme in an affordable manner.

The report recommended:-

that Committee –

(a)      approve the intended plan for the Fund to enter into a Deferred Debt Arrangement with the employer outlined in the report upon issue of a notice of exit from the scheme;

(b)      note the intention of the Scottish Government to update the Local Government Pension Scheme (Scotland) Regulations in early 2022, following consultation, to allow for further flexibilities around exiting from the LGPS (including Deferred Debt Arrangements); and

(c)      note that changes would be made to update the NESPF Funding Strategy Statement and Termination Policy as a result of the new flexibilities and these updated policies would be brought to the Pensions Committee for approval at a future date.

The Committee resolved:-

to approve the recommendations.

The Board resolved:-

to note the decision of the Committee.

-        COUNCILLOR M. TAUQEER MALIK, Convener