Issue - meetings

1.    The PFC members noted this report and made themselves aware of the various current issues affecting the LGPS.

2.    The members noted the ruling on survivor pensions and the potential actions discussed.

            Mr Middleman presented the report which was for information but welcomed any questions for him or the rest of the advisers. 

            Cllr Llewelyn Jones mentioned that the Scottish LGPS had backdated their pensions with regard to the landmark rulings on survivor pensions and asked whether there was any information regarding England & Wales. He also asked about the closure of the Prudential Deposit Fund and whether there was another cash fund available.

            Mr Middleman said that in relation to the AVCs, the Deposit Fund was closing to new members only but there was another cash fund for members to invest in if they choose to do so. Existing members contributing to the Deposit Fund will still have that option available. 

            In regard to the survivor rulings, as far as Mr Middleman was aware, England & Wales needed to look if anyone had been affected in the relevant period and then amend their benefits accordingly. Mrs McWilliam commented that DCLG has suggested LGPS administering authorities should identify the cases and then pay the benefits and there is no need for a change in LGPS regulations.  However the LGA has written to LGPS administering authorities saying they do not agree and that there is an administering authority currently going through Court on a similar case.  Accordingly advice from LGA is to identify any cases that may be affected and then hold off for a period to see how this develops.

            Mr Hibbert (Scheme Member Representative) asked about the pending Fair Deal Regulations.  Mr Middleman said that this was still under discussion and could be by the end of the year but noted that these Regulations had been put back many times.

RESOLVED:

1.    The PFC members noted this report and made themselves aware of the various current issues affecting the LGPS.

2.    The members noted the ruling on survivor pensions and the potential actions discussed.