Issue details

LGPS UPDATE

This report updates Members on the Treasury announcement of 12 February, to issue a direction to disapply the ‘Restriction of Public Sector Exit Payments Regulations 2020 (£95k cap) with immediate effect. Subsequently, on 25 February the Treasury formally revoked the regulations with effect from 19 March 2021.

The report raises awareness of the publication of the final report from the Scheme Advisory Board on the Good Governance review and overriding legislation that will impact on the administration of the LGPS.

Decision type: Key

Reason Key: Expenditure impact > £500,000;

Decision status: For Determination

Wards affected: (All Wards);

Decision due: 29 Mar 2021 by Pensions Committee

Lead member: Councillor Pat Cleary, Leader of the Green Group, Chair Pensions Committee patcleary@wirral.gov.uk

Lead director: Director of Merseyside Pension Fund

Department: Delivery

Contact: Emma Jones Email: emmajones@wirral.gov.uk.

Agenda items

Documents

  • LGPS UPDATE