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, Group Manager for Funding, Investment & Risk Email: liz_woodyard@bathnes.gov.uk Tel: 01225 395306.
Decisions
- 04/05/2021 - Admission Body exit request - Avon Pension Fund