Decision details
South Hill Park Trust Ltd Pension Liabilities
PDF 111 KBDecision Maker: Executive Member for Culture, Delivery and Public Protection
Decision status: Recommendations approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
To consider a request by Trustees for the
Council to act as guarantor for its LGPS pension scheme
Decision:
That the Executive Member confirms that the Council will not place public money at risk by agreeing to underwrite the South Hill Park Trust’s pension arrangements as has been requested and that the Leader responds to the letter from the Trustees, indicating this.
Reasons for the decision:
To accept the liabilities associated with South Hill Park’s Pension Fund would put public money at unnecessary risk, given that there was no legal connection between the Council and the Trust.
Alternative options considered:
To accept the risk associated with South Hill Park’s pension fund liabilities and act as its guarantor.
Interests and Nature of Interests Declared:
None.
Wards Affected: (All Wards);
Financial Impact: Potential financial impact, set out in the report
Declarations: None.
Subject to Urgent Proceedings: No.
Making Representations: To Executive Director: Resources
Other reasons / organisations consulted
No public consultation. Member representations
to Executive Member for Culture, Delivery and Public
Protection
Consultees
Members
Contact: Kevin Gibbs, Executive Director: Communities Email: kevin.gibbs@bracknell-forest.gov.uk, Stuart McKellar, Executive Director: Resources Email: stuart.mckellar@bracknell-forest.gov.uk Tel: 01344 352205.
Publication date: 01/06/2021
Date of decision: 01/06/2021
Effective from: 09/06/2021