Decision details

Inter Valuation Contributions Review.

Decision Maker: Pension Fund Committee

Decision status: For Determination

Is Key decision?: No

Purpose:

The regulations allow contributions to be reviewed between valuations in certain circumstances. This paper recommends that contributions to be reviewed for FE Colleges following the introduction of a guarantee by the Department for Education in November 2024.

Decisions:

The Head of Fund presented a report on the outcome of a review of employer contributions for Further Education colleges, which recommended that they move to revised contribution rates following the introduction of a guarantee by the Department for Education in November 2024

 

Resolved: The Committee approved that Further Education colleges move to the Category 'A' contribution rate effective from the date of the Department for Education guarantee of 12 November 2024.

 

Corporate Priorities : N/A;

Divisions Affected: (All Divisions);

Contact: Julie Price Email: Julie.Price5@lancashire.gov.uk.

Report author: Julie Price

Date of decision: 07/03/2025

Decided at meeting: 07/03/2025 - Pension Fund Committee

Accompanying Documents: