Agenda item

The Committee considered a report of the Corporate Director of Resources presented by the Head of Pensions (LGPS) on the Pension Fund – Debt Management and Write-off Policy (for copy see file of Minutes).

The Head of Pensions (LGPS) gave an overview of the Fund’s Debt

Management and Write-off Policy and provided a summary of its key features. 

He noted that the majority of instances of Pension Fund Debt occurred following the death of a scheme member and explained as regards a sensitive approach in terms of a £250 write-off and requirements in terms of HMRC and tax charges on debt over £250 or for a period after six months following a scheme member’s demise.

The Chair noted he felt the approach was sensible and sensitive, the Committee agreed.

Resolved:

(a)     That the report be noted.

(b)     That the Corporate Director of Resources be authorised to finalise,   publish and implement the Policy, taking into account comments of the

          Pension Fund Committee and Local Pensions Board.

(c)      That review of the Debt Management and Write-off Policy be   delegated to the Local Pensions Board.