Agenda and decisions

The Cabinet:

1.1          Approved the scope of the LCTSS review.

1.2          Approved the outcomes shown at para 3.19 of the Cabinet report that we are seeking to achieve with LCTSS.

1.3          Noted Overview and Scrutiny Committee will be involved with the review of the scheme.

1.4          Agreed the contract for the Interim Revenue & Benefits Manager is extended initially for a further 2 months until 1 September 2022, to be in line with the implementation of the Target Operating Model.

The Cabinet:

1.1          Approved that the contribution strategy is based on the Pension Fund Actuary’s alternative strategy for the period 2023/24 to 2025/26.

1.2          Approved the upfront payment of the secondary element in advance (option 2B in the Cabinet report) in April 2023 and to update the Medium Term Financial Strategy for 2023/24 to 2025/26.

1.3          Noted that the MTFS for 2026/27 onwards will be based on the Actuary’s current preferred strategy and an upfront payment (option 1B in the Cabinet report).