Understanding Employers Discretions Beth Sargent – Employer Liaison and Communications Officer.

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Presentation transcript:

Understanding Employers Discretions Beth Sargent – Employer Liaison and Communications Officer

What is a Pensions Discretion Policy? Pension decisions that you need to make outside of the Regulations ‘Local decision-taking and improved flexibility in pensions’ Concerns past and present employees who were/are members of the LGPS

Why must I have a pensions discretion policy? Local Government Pension Scheme Regulations 2013 ‘Employers are required to formulate, publish and keep under review a policy statement in relation to the exercise of a number of discretions under the LGPS’

What must I think about when writing the discretions? Cost Discrimination Fettering

Can’t I just see Northamptonshire/Cambridgeshire County Council’s policy?? Not a good idea The lead Council is often the biggest employer in the Fund with very different membership demographics and funding levels Advise you to formulate your own policy based on your own membership base and budgetary constraints

Where can I find out more? The discretions template used today only contains the compulsory discretions you need a policy for There are other discretions that it is recommended you have a policy for See the discretions page on our website for the full list - php/employers/discretions/

Contact details Employer’s Team Cory Blose Employer Services Manager Beth Sargent Employer Liaison Officer Richard Sultana Employer Liaison Officer Mark McAuliffe Pensions Officer Jessica Fowkes Pensions Officer Tel: