Decision details

The Committee considered a report setting out proposals for five key areas of discretion following a review of existing policies and discretions, prompted by changes to pension legislation. Subject to the Committee's approval, it was now proposed to consult on each of the following five policies prior to formal adoption by the Committee at a future date:

-  Abatement of pensions;

-  Transfer in of pension rights;

-  Commutation of pensions;

-  Admissions and terminations;

-  Bulk transfers.

Resolved: - That:

(i)  The recommendations set out at Appendices 'A', 'B, 'C', 'D' and 'E' of the report now presented, be approved;

(ii)  The recommendations form the basis of a consultation exercise with fund employers and the Lancashire Local Pension Board prior to formal policy adoption by the Committee at a future meeting.