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.