Decision details

The Corporate Portfolio Holder presented the report to Members.

He advised Members that following changes to the Local Government Pension Scheme from 1 April 2014, in which benefits for service after 31 March 2014 will accrue on a career average revalued earnings (CARE) basis, rather than on a final salary basis, the Council, as an employing body was required to formulate, publish and keep under review a Statement of Policy on certain discretions which it has the power exercise in relation to members of the CARE scheme.

It was moved by Councillor N J Rushton, seconded by Councillor R D Bayliss and

RESOLVED THAT:

1.     Cabinet accepts the recommendations of the reviewed pension policies as set out in appendix 1 of this report.

2.     Cabinet endorses the decision delegationarrangements as detailed in paragraph 2.2 of this report.

Reason for decision: There is a legal requirement to review the policies that the Council has in place in relation to the exercise of discretionary functions under the Local Government Pension Scheme Administration Regulations by the end of June 2014.

Ms C E Fisher returned to the meeting.