Decision details
Guarantees relating to Pension Fund Admitted Bodies
Decision Maker: Decision Session - Executive Member for Finance and Major Projects
Decision status: Decision Made
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
Purpose of Report: To amend the current pension fund guarantee offered by the Council to Yorkshire Museums Trust, Veritau, Make It York, Be Independent and Explore.
The Executive Member is asked to agree to offer a subsumption guarantee with effect from 1 April
2017.
The item on the Forward Plan – Pension Fund Admitted Bodies will now be considered at a Leader (incorporating Finance and Performance) Decision Session that will be held on Tuesday 28 March 2017 at 4.15pm.
As this item impacts on companies which include those of which the Leader is a director, the Leader has allocated this decision to Councillor Rawlings.
Decision:
Resolved: That the change to the guarantor arrangements in relation to the admitted bodies from guarantee of last resort to a subsumption guarantee be approved.
Reason: To enable the admitted bodies a greater level of security and reduce risk to the pension fund.
Report author: Debbie Mitchell
Publication date: 28/03/2017
Date of decision: 28/03/2017
Decided at meeting: 28/03/2017 - Decision Session - Executive Member for Finance and Major Projects
Effective from: 31/03/2017
Accompanying Documents:
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