Issue details

Admission Body exit request - Avon Pension Fund

Admission bodies are permitted to leave the scheme in certain circumstances in line with the LGPS regulations and Avon Pension Fund's Funding Strategy. Wesport, a small charity, requested to leave the scheme on the grounds of affordability. The employer conducted full due diligence and consulted the affected employees. Fund officers took legal advice and consulted the guarantors to the admission agreement. On exit a Deed was entered into signed by all parties to the admission agreement. There is no cost to the Fund on exit as Wesport is responsible for any outstanding debt on exit.

Decision type: Non-key

Decision status: Approved

Notice of proposed decision first published: 04/05/2021

Decision due: 30 Apr 2021 by Chief Finance Officer (S151)

Contact: Liz Woodyard, Investments Manager Email: Tel: 01225 395306.