(a) That the Chief Executive, following consultation with the Leader of the Council and Commissioner for Children’s Services, be given delegated authority to agree the heads of terms of the pension arrangements, namely:
1. Admission to the Berkshire LGPS Pension Fund (“the Fund”), should be on an open and not a closed basis, and;
2. The Council will provide a Guarantee to the Fund in relation to the Trust meeting its liabilities under LGPS during the term of the Service Delivery Contract (“the Contract”), and;
3. On transfer of the services back to the Council at the end of the Contract the Council will assume the Trust’s pension liabilities.
subject to the provisos and protections set out in Appendix B to the report.
(b) That the significant concerns of the Cabinet about the potential future pension liabities on the transfer of services back to the Council be noted, and that Officers seek further assurance and safeguards from the DfE to minimise this risk.