Issue - meetings

The Cabinet Member for Finance presented a report on new regulations introduced under the Pensions Act 2008 relating to the automatic enrolment of eligible staff into a qualifying pension scheme.

The Cabinet Member outlined the key aspects of the new requirements, the two main options that had been considered and the advantages and disadvantages associated with both.  The preferred option allowed the Council to apply transitional arrangements up to October 2017 for those staff that had previously opted out of the Local Government Pension Scheme (LGPS), although he confirmed that all non-participating staff would continue to be encouraged to participate in the LGPS.

Cabinet agreed:

  (i)  That the Council apply the transitional arrangements for auto-enrolment to the LGPS as outlined in option 2 in the report and to use the following timetable to implement auto-enrolment:-

a.  Identify all employees who are eligible job holders within one month of the staging date of 1 April 2013;

b.  From 1 April 2013, enrol all new employees (as existing procedure) and any member passing age 22 or breaching the £8,105 threshold for the first time; and

c.  On 1 October 2017, auto-enrol all current employees who are not currently scheme members (and who are on a salary greater than £8,105 and aged over age 22).