Agenda item

Report of the Chamberlain

The Board considered a report of the Chamberlain providing an update on key issues in respect of the CoLP Pension Scheme.  Officers highlighted the non-public Appendix to the report and reminded Members that if they wished to discuss the appendix in detail, the public would need to be excluded before this debate took place.

The Board was advised that HMT had circulated information in respect of the McCloud remedy at the end of the previous week and Officers were currently looking at the implications/remedies for the scheme.  The Pensions Office in conjunction with CoLP HR and Finance Officers had ongoing dialogue on proposed remedies, how they might be implemented and the potential impact on the Scheme administration.

There were proposals for a new website managed by the Pensions Team, which would be a central hub for sharing information with Officers including any updates on the McCloud judgement and remedy.  This would be a more effective means of communicating with serving and former Officers and would relieve the pressure on the Pensions Team.

In response to questions and observations from Members, Officers advised that any financial impact of the McCloud Judgement would be funded  by the Home Office.  However, the potential impact on administration resources was not yet known.

Board Members commended Officers for the comprehensive report and requested that for future reports, Appendix 2 (page 39) should include data for the previous 4 quarters.

RESOLVED -

1.            That the report be noted.

2.            That for future reports, Appendix 2 as set out on page 39 of the agenda pack, should include data for the previous 4 quarters