CONSULTATION ON NEW EMPLOYER FLEXIBILITIES
Local Government Pension Scheme (Amendment) (No. 2) Regulations 2020 in September 2020 introduced new powers for administering authorities to:
- review employer contributions outside of the normal triennial valuation cycle in specified circumstances
- spread exit payments for exiting employers
- set up Deferred Debt Agreements for exiting employers
A draft policy has been endorsed by the Pension Fund Committee as well as amendments to the Funding Strategy Statement (FSS) to reflect the new policy.
The final versions of both the policy and the FSS are subject to the outcome of a period of consultation with employers and other fund stakeholders.
The draft policy will form part of the FSS (as a new appendix I). The proposed changes to the FSS are also shown as tracked changes.
Please take time to:
- look through the draft policy (appendix I) and the amendments to the FSS
- consider how it may impact on your organisation as a participating employer in the Cheshire Pension Fund
- submit any views and comments you may have via the consultation.
If you’re the not the main financial contact for your relationship with the Cheshire Pension Fund, please also ensure that the person who deals with your employers financial matters has received a copy of this email.
The consultation is open until 5pm 14 May 2021.
If you wish to submit a response please email PensionsEmployer@cheshirewestandchester.gov.uk with “CONSULTATION – EMPLOYER FLEXIBILITIES” as the subject title of your email.
Also, if you have any queries please also email PensionsEmployer@cheshirewestandchester.gov.uk in the first instance, with “CONSULTATION – EMPLOYER FLEXIBILITIES” as the subject title of your email.