Issue - meetings

McCloud - Effects on Local Government Pension Scheme (LGPS)

Meeting: 14/09/2021 - West Yorkshire Pension Fund Pension Board (Item 19)

19 McCLOUD- EFFECTS ON LOCAL GOVERNMENT PENSION SCHEME (LGPS) pdf icon PDF 85 KB

The report of the Director, West Yorkshire Pension Fund (Document “M”) provides an update on the effects on the Local Government Pension Scheme (LGPS) of a long awaited consultation on applying the remedy to address the age discrimination inherent with the transitional protections that were adopted by the public service scheme in 2014.

 

Recommended –

 

That the report be noted.

(Caroline Blackburn - 01274 434523)

 

Decision:

Resolved –

 

That the report be noted.

 

Action: Director, West Yorkshire Pension Fund

Minutes:

The report of the Director, West Yorkshire Pension Fund (Document “M”) provided an update on the effects on the Local Government Pension Scheme (LGPS) of a long awaited consultation on applying the remedy to address the age discrimination inherent with the transitional protections that were adopted by the public service scheme in 2014.

 

Members were aware that further draft LGPS regulations were expected by the end of 2021. This would enable progress to be made on upgrading administration systems to allow for the changes as well as help administering authorities plan their communication and rectification programmes.

 

Preparatory arrangements to allow the Fund to prepare for the considerable amount of work which would be required were reported including the appointment of new staff and provision of training to allow the fund to address the substantial work required alongside the normal activities once the LGPS regulations were announced.

 

In response to questions it was explained that the McCloud judgement would affect all those in the scheme in 2021 and 2014.  Pensions would be checked and all would receive whichever was the better of the CARE or final pension scheme.  From 1 April 2022 all new members would be placed in the correct scheme.

 

Resolved –

 

That the report be noted.

 

Action: Director, West Yorkshire Pension Fund