Link to homepage

Issue - meetings

Pensions Policy

Meeting: 17/11/2021 - Executive (Item 62)

62 Pension Discretions Policy pdf icon PDF 80 KB

To consider and approve the revised policy; to delegate authority to the Borough Solicitor to make amendments to the Scheme of Delegation to increase the financial limit from £10,000 to £20,000 (or where the expenditure cannot be found within existing budgets) before it would be referred to Executive Committee; and to agree that the policy is reviewed annually but only brought back to Executive Committee for review every three years or when a change is required (whichever is sooner).

Subject To Call In:: Yes - No action to be taken prior to the expiry of the call-in period.

Additional documents:

Decision:

1.    That the revised Pensions Discretions Policy be APPROVED.

2.    That authority be delegated to the Borough Solicitor to make amendments to the Scheme of Delegation to increase the financial limit from £10,000 to £20,000 (or where expenditure could not be found within existing budgets) before it would be referred to Executive Committee. Requests below that level of expenditure to be delegated to the roles clarified as Head of Paid Service and S151 Officer in consultation with the Lead Member for Finance and Asset Management.  

3.    That the Policy be reviewed annually but only brought to the Executive Committee for review every three years or when a change is required whichever is sooner.

Minutes:

62.1          The report of the HR and OD Manager and Finance Manager, circulated at Pages No. 139-158, asked Members to approve the revised Pensions Discretion Policy; to delegate authority to the Borough Solicitor to make amendments to the Scheme of Delegation to increase the financial limit from £10,000 to £20,000 (or where expenditure could not be found within existing budgets) before it would be referred to the Executive Committee; and to agree that the Policy be reviewed annually but only brought back to the Executive Committee for review every three years or when a change was required, whichever was sooner.

62.2          Members were advised that the Council had a Discretions Policy published on its website and was available to employees. That Policy was kept under review so there was an opportunity to streamline and simplify the policy statement as well as to review the limits set by the Constitution at which individual pension requests needed to be considered by Members and to clarify the arrangements for review. The HR and OD Manager explained that almost all of the Council’s Officers were eligible to be part of the scheme so it was important it was reviewed and followed the template provided by the petition administrators. The Finance Manager explained that the discretions in the policy were the different ways people could draw their pensions early and the cost came from a lump sum cost which the central pensions administrator charged the Council. The requests were considered on a case-by-case basis subset to a business case demonstrating it was in the interests of the Council to approve.

62.3          Accordingly, it was

Action By: HCorS