Issue - meetings

ADMISSION BODY APPLICATION

Meeting: 02/02/2021 - Pensions Committee (Item 39)

ADMISSION BODY APPLICATION

Additional documents:

Minutes:

The Head of Pensions Administration, Yvonne Murphy, introduced a report that sought approval to delegate authority to the Director of Pensions to admit an applicant to Merseyside Pension Fund (MPF) as a community admission body.

 

The report was exempt by virtue of paragraph 3.

 

The report informed that the formal process to admit the applicant was conditional on receipt of the Secretary of State direction to substitute MPF for CPF in accordance with Part 2 of Schedule 3 of the LGPS Regulations 2013.

 

In addition, Wirral Council’s Group Solicitor must be satisfied that the operations of the organisation align with the regulatory criteria to participate as community interest admission body under the LGPS regulations.

 

On a motion by the Chair and seconded by Councillor Cherry Povall it was:

Resolved - That authority be delegated to the Director of Pensions:

 

·  to respond to the consultation issued by the Secretary of State on the final terms of the substitution of Funds.

 

·  to admit the applicant as a community admissions body of MPF following consideration of the Group Solicitor’s advice, the financial strength of the body, the accessibility of security and the risks to the Fund’s stakeholders.