Priorities

Agreed top priority - Formalising the LGPS cost management methodology and performing a ‘dry run’ using 2013 valuation data which should include 2014 employers cap.
Agreed other priority - Determining the contribution bands and rates required to ensure a 6.5% yield in April 2014, still awaiting data from GAD, once received needs to be done ASAP.

Membership

* also sit on the Board

Representation Sub-committee members
Member Representatives (3 seats)

Jon Richards*- UNISON

Brian Strutton*- GMB

Bryan Freake - Unite

Employer Representatives (2 seats)

Cllr Ann McLachlan - LGA

Education tbc

(substitute: Cllr John Muldoon (LGA))

Local Authority Treasurers (3 seats)

Names to be confirmed

LGPS Fund Practitioners (2 seats)

Richard Appleby

Geoff Reader

(substitutes: Nadine Perrins and Catherine Dix)

CIPFA (1 seat) Paul Dale

(substitutes: Nigel Keogh and Bob Summers)

GAD (1 seat) Michael Scanlon
Fund Actuaries (4 seats)

Peter Summers* - Hymans Robertson

Alison Hamilton - Barnet Waddingham

John Livesey - Mercer

Alison Murray - Aon Hewitt

 

Cost Control Communications

In December 2014, the Shadow Scheme Advisory Board (SSAB) published two briefing notes in respect of the cost control processes which will be used to assess the costs of the reformed LGPS in England & Wales.

A briefing note for members and employers was published in order to:

 

The SSAB ask that administering authorities make this briefing note accessible to fund employers and members so that they can familiarise themselves with the processes and the possible impacts that the cost control mechanisms could have on the Scheme benefits structure and/ or employee contribution rates.

A second briefing note was published for administering authorities in order to outline the role that LGPS pension funds will play in the cost control process and in particular focusses on the practicalities of delivering accurate and timely cost control figures.

In addition, the SSAB published a process map (located here) and a timetable (located here) setting out its plans for the interactions between the HM Treasury Employer Cost Cap (ECC) process and the Scheme Advisory Board Future Service Cost (FSC) process.

Any questions or queries arising from the publication of these documents should be referred to the Board secretariat in the first instance.

Please note that the briefing note for members and employers had minor amends made to it in February 2015 and the linked version above incorporates these changes.

Previous meetings


Local Government House Conference rooms 7.1 & 7.2

Agenda (PDF, 1 page, 255kb)

Item 2 - Actions and agreements of 6th July 2015 (PDF, 4 pages, 411kb)

Item 3 d Revaluation 23rd April 2015 (PDF, 7 pages, 73kb)

Item 3 d Revaluation Prices Order 2016 (PDF, 2 pages, 81kb)

Item 5 a Cost Management Process Map (PDF, 4 pages, 63kb)

Item 5 a Cost Management Timetable (PDF, 3 pages, 17kb)


Local Government House Rathbone Room 1 (7.1)

Agenda (PDF, 1 page, 33kb)

Agenda item 2 - Actions and agreements of 30th March 2015 (PDF, 3 pages, 345kb)

Attachment to "Agenda item 2 - Actions and agreements of 30th March 2015"
Agreements of assumptions for standardised funding calculations (PDF, 7 pages, 286kb) for ease of reference

Agenda item 4 - Revaluation 23 Apr 2015 (PDF, 7 pages, 73kb)


Local Government House The Millbank Room (8.2)

Agenda (PDF, 1 page, 195kb)

Agenda item 2 - Actions and agreements of 5th February 2015 (PDF, 9 pages, 438kb)

Agenda item 4 - Agreements of assumptions for standardised funding calculations (PDF, 7 pages, 286kb)

Agenda item 5 - GAD 2016 valuation data requirements (PDF, 1 page, 54kb)


Layden House Rooms A and B

Actions & agreements of 5th February 2015 (PDF, 9 pages, 438kb)

Agenda (PDF, 1 page, 190kb)

Item 2 - Actions and agreements from meeting of 7th November 2014 (PDF, 3 pages, 333kb)

Item 5 - Draft letter to DCLG re. employee contribution bandings (PDF, 2 pages, 164kb)

Item 6 - Assumptions for use in cost control process and consistent funding level calculations (PDF, 4 pages, 329kb)

Item 6 - Annex 1 (PDF, 5 pages, 180kb)


Local Government House The Millbank Room

Actions & agreements of 7th November 2014 (PDF, 3 pages, 333kb)

Agenda (PDF, 1 page, 252kb)

Actions & agreements of 3rd July 2014 (PDF, 3 pages, 392kb)

Item 4 - Cost control regulations consultation (PDF, 22 pages, 529kb)

Item 6 - Covering note (PDF, 1 page, 182kb)

Item 6 - Draft briefing note for administering authorities (PDF, 3 pages, 270kb)

Item 6 - Draft briefing note for members & employers (PDF, 3 pages, 231kb)

Item 6 - Draft extended briefing note for members & employers (PDF, 8 pages, 331kb)

Item 6 - Draft cost control timetable (PDF, 3 pages, 17kb)

Item 6 - Draft cost control process map (PDF, 3 pages, 63kb)


Layden House Rooms D and E

Agenda (PDF, 1 page, 255kb)

Agenda item 2 - Actions & agreements from meeting of 29th April 2014 (PDF, 2 pages, 385kb)

Actions & agreements from meeting of 3rd July 2014 (PDF, 3 pages, 392kb)

Aon Hewitt Commutation Analysis (PDF, 1 page, 156kb)


Local Government House Conference Rooms 3 and 4

Agenda (PDF, 1 page, 256kb)

Item 2 - Actions and agreements from meeting of 24th March 2014 (PDF, 3 pages, 394kb)

Item 3 - Draft cost management paper (PDF, 7 pages, 310kb)

Actions and agreements from meeting of 29th April 2014 (PDF, 2 pages, 290kb)


Layden House Rooms D & E

Agenda (PDF, 1 page, 255kb)

Actions Agreements 24th March 2014 (PDF, 3 pages, 394kb)


Layden House Room A & B

Agenda (PDF, 1 page, 173kb)

Agenda Item 3a - Questions for actuaries on 2013 valuation (PDF, 1 page, 83kb)

Agenda Item 5 - Updated Cost Management Paper (PDF, 7 pages, 310kb)

Agenda Item 6 - Update for sub-committee on Hymans Robertson Longevity Index (PDF, 2 pages, 26kb)

Actions and Agreements from meeting of 3 February 2014 (PDF, 2 pages, 387kb)


Room 8.2 LG House

Actions and Agreements (PDF, 3 pages, 388kb)

Agenda (PDF, 1 page, 352kb)
Draft Cost Management document (PDF, 6 pages, 309kb)
Proposed Longevity Index (PDF, 11 pages, 341kb)


LG House Conference Rooms 1 & 2

Actions and Agreements (PDF, 4 pages, 450kb)

Agenda (PDF, 1 page, 371kb)
Terms of Reference (PDF, 2 pages, 88kb)
Proposals letter to DCLG (PDF, 10 pages, 74kb)
HMT Cost Cap (PDF, 14 pages, 178kb)
GAD comparator (PDF, 1 page, 19kb)
Combined timetable (PDF, 3 pages, 17kb)
GAD timetable (PDF, 1 page, 78kb)
HMT Draft Directions (PDF, 23 pages, 249kb)