Decision details

Admission and Termination Policy

Decision Maker: Pension Fund Committee

Decision status: For Determination

Is Key decision?: No

Purpose:

The report contains updates to the Admission and Termination policy in light of recent legislation changes and to bring the policy in line with the Funding Strategy Statement which was amended in March 2020.

Decisions:

The Chair presented a report on the latest version of the Policy which had been updated to incorporate further changes to legislation regarding exit credits, allowances for the on-going effects of the McCloud judgement and to bring the policy in line with the Funding Strategy Statement which had been amended in March 2020.

 

Resolved:

 

1.  That the changes to the Admission and Termination Policy, as set out in Appendix 'A' to the report presented, are approved and are the subject of a short consultation with the employers in the Fund.

 

2.  That a further report on the outcome of the consultation and a final draft of the Admissions and Termination Policy be presented to the Committee on the 27th November 2020.

Report author: Colin Smith

Date of decision: 18/09/2020

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

Accompanying Documents: