Agenda item

This paper sets out cessation activity for the Fund. There is also a recommendation of a decision to be made by the Committee with reference to a Fund employer that have ceased in the Fund but have a surplus at the time that they are ceasing to be a participating employer in the Fund. The recommendation is that the surplus is processed as detailed in Exempt Appendix 1.

This item includes appendices that contain exempt information. Discussion of the appendices will require passing the proposed resolution at the end of the agenda to exclude members of the public and press.

Eleanor Dennis (Head of Pensions) presented the report which outlined the cessation activity for the Fund.

It was noted that an amended set of recommendations were published and circulated to the Committee on 23^rd October 2023.

The paper included a recommendation of a decision to be made by the Committee with reference to a Fund employer that had ceased in the Fund but had a surplus at the time that they are ceasing to be a participating employer in the Fund. The recommendation was that the surplus was processed as detailed in Exempt Appendix 1 (Amended) - Exempt information, implications, and recommendations.

Members discussed Exempt Appendix 1 (Amended) in the exempt session at the end of the meeting.

RESOLVED:

That the Pension Fund Committee:

1      Approved that appendices (1-8) were not for publication on the basis that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) as set out in paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended).

2      Approved the payment of exit credits as set out in Exempt Appendix 1 (Amended) - Exempt information, implications, and recommendations.