Decision details

The Committee considered a report setting out details of the employer responses to the consultation on the framework for the 2016 Valuation.

Whilst only a small number of employers had responded to the formal consultation, employers were also engaged at a number of events such as the Director's Brief.

Whilst there was support for the proposed change to the valuation methodology and maintaining the current contribution plan, many employers would like to see a reduction in contribution rates and an extension to the deficit recovery period.

The report set out a broad timetable for the valuation process which included further meetings and sessions with employers.

Resolved: - That:

(i)  The results of consultation with employers on the valuation framework, as set out in the report, now presented, be noted;

(ii)  The process proposed for managing the valuation process and engaging with employers throughout the process, as set out in the report, now presented, be noted;

(iii)  Existing, and any future, Multi-Academy Trusts with more than one school within the Fund, be offered a common contribution rate;

(iv)  The Fund's current policy in relation to not allowing reductions in contribution rates for employers who continue to have a deficit within the Fund, be continued.