Contact: Jon Pittam, (01962) 847400; [email protected]

1 Summary

1.1 Following an initial consultation earlier in the year, the Minister for Local Government has announced the main elements of the new look local government pension scheme (LGPS) due to be introduced from 1 April 2008. The scheme will continue to be a final salary pension scheme but with various changes that make it likely to be more expensive than the option based on the existing scheme preferred by the County Council.

1.2 The following decision was made:

That the Leader and County Treasurer make a formal response during the consultation period.

2 Reason

2.1 This report informs the Cabinet of the Government's response to the initial consultation on a new look local government pension scheme. The County Council will have an opportunity to respond to the draft pension regulations required to bring the changes to the current scheme into effect.

3 Other options considered and rejected:

3.1 Not applicable.

4 Conflicts of interest declared by the decision maker or other Executive member consulted

4.1 None.

5 Dispensation granted by the Standards Committee

5.1 None.

6 Reason for the matter being dealt with if urgent

6.1 None.

Approved by: Date:
Councillor T K Thornber, CBE