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Issue - meetings

SETTLE PENSION AGREEMENT - PART 2

 

 

Meeting: 28/09/2023 - Council (Item 235)

SETTLE PENSION AGREEMENT - PART 2

REPORT OF THE SERVICE DIRECTOR – RESOURCES

 

To consider a new pension Admission Agreement with settle and the extent of any risk that the Council is taking on in acting as a guarantor.

Additional documents:

Decision:

RESOLVED: That Council agreed to a new Admission Agreement between Hertfordshire County Council (as the Hertfordshire Pension Fund administer), Settle Group and North Hertfordshire District Council to allow settle to achieve a partial exit from the Local Government Penson Fund. The terms of that new Admission Agreement would be in line with what is set out in paragraph 8, including the recommended actions outlined in 8.6.1 to 8.6.3 of the Part 2 report.

 

REASON FOR DECISION: Settle had requested that the Council consider the proposal that it has made. Settle felt that it was in their best financial interests and it was possible that it could allow greater capacity for Settle to invest in housing, which could be in North Herts.

Minutes:

N.B. This item was considered in restricted session and therefore no recording is available.

 

RESOLVED: That Council agreed to a new Admission Agreement between Hertfordshire County Council (as the Hertfordshire Pension Fund administer), Settle Group and North Hertfordshire District Council to allow settle to achieve a partial exit from the Local Government Penson Fund. The terms of that new Admission Agreement would be in line with what is set out in paragraph 8, including the recommended actions outlined in 8.6.1 to 8.6.3 of the Part 2 report.

 

REASON FOR DECISION: Settle had requested that the Council consider the proposal that it has made. Settle felt that it was in their best financial interests and it was possible that it could allow greater capacity for Settle to invest in housing, which could be in North Herts.