Decision details

McCloud Update

Decision Maker: Pension Fund Committee

Decision status: For Determination

Is Key decision?: No

Purpose:

This report sets out an update on the on-going issues around the McCloud judgement and current consultation.

Decisions:

An update report was presented in relation to ongoing issues associated with the McCloud judgement and the consultation on draft Regulations by the Ministry of Housing, Communities and Local Government which was due to end on the 8th October 2020.

 

In considering the report the Committee acknowledged that implementation of changes resulting from the judgement would involve a significant administrative burden for the Fund. In response the Head of Fund confirmed that the Fund would work with the Actuary and the Local Pensions Partnership to implement the changes and communicate them to members and employers, though it was recognised that the cost of implementation exceeded the benefits to individual Fund members. 

 

Resolved: That members of the Committee send any comments regarding implementation of the McCloud judgement to the Head of Fund before the 1st October 2020 so that they can be considered before a response is sent to the Ministry of Housing, Communities and Local Government ahead of the 8th October deadline.

 

Report author: Colin Smith

Date of decision: 18/09/2020

Decided at meeting: 18/09/2020 - Pension Fund Committee

Accompanying Documents: