Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: November 11, 2025

Purpose:

Content:  RESOLVED    KEY DECISION   That the Executive:   a)     Approved the implementation of a Shared Cost Additional Voluntary Contribution pension arrangement for members of the Local Government Pension Scheme.   b)     Approved that earnings related payments, such as overtime, pay increases, contractual allowances, occupational maternity pay, occupational sickness pay, and redundancy are calculated on the notional salary before applying the salary sacrifice reduction. Section 4.5 below gives further details.   c)     Approved the amendment of the Council's LGPS Discretionary Pension Policy Statement to permit LGPS staff to participate in a Shared Cost AVC scheme.   d)     Approved partnering with an external provider to deliver a fully managed service covering Shared Cost AVCs.     Reason for Recommendations: The implementation of a Shared Cost AVC scheme will deliver a new employee benefit for our LGPS staff as well as improved pension education and financial well-being. It will improve recruitment and retention and deliver budget savings for the Council. There is no cost to implement a scheme and will ensure that our staff have access to a scheme that is already available at most of the councils in the UK. The scheme is compliant with HMRC and LGPS regulations.   The Council has the option to manage the scheme in house but as this carries both resource and compliance risks this is not a viable option. The use of a fully managed service provider will also deliver a much wider take up and is the route other councils use.