Issue - meetings

 The Corporate Governance Committee received and noted the Pension Fund Annual Report for 2008-09, published by Cambridgeshire County Council.

The Scheme was open to both councillors and staff, and a number of those present did in fact contribute to it.

Members noted with concern that the actuarially forecast deficit on the Pension Fund would, in all probability, require an employer’s contribution rate of approximately 33% being introduced and maintained for a period of some 20 years, until the funding imbalance had been addressed. The Chief Executive commented that although as part of the pre-budget statement the Government had signalled its intention to cap employer’s contribution rates at a predetermined level, further details of the proposal were not yet available.

Councillor Francis Burkitt questioned the extent of awareness of the Pension Scheme, and its implications, across South Cambridgeshire District Council as a whole.  He suggested that there might be some merit in providing all 57 elected Members with a copy each of the Pension Fund Annual Report 2008-09 with a view to setting aside time at Full Council for a dedicated debate on the subject (that is, not as an aside to some other discussion).

Councillor Douglas de Lacey asked whether there was anything South Cambridgeshire District Council could do to enhance performance of the Funds.  Greg Harlock (Chief Executive, said that the best this Council could do was to ensure effective stewardship in the management of its staffing arrangements.

Following further discussion, it was agreed that:

·           Alex Colyer, Executive Director (Corporate Services) would invite the lead Cambridgeshire County Council officer for the Pensions Service to present the 2009/10 Pension Fund Annual Report to Members at a Corporate Governance Committee meeting in Autumn 2010.

·           Invitations to attend the meeting in Autumn 2010 would also be extended to the Finance and Staffing Portfolio Holder at South Cambridgeshire District Council (currently Councillor Simon Edwards) or to the equivalent Portfolio Holder at that time, and to the councillor representing all district councils participating in the Fund.

The Chief Executive introduced this item, advising that information regarding the pension fund had been requested by Councillor Burkitt at a previous meeting. Given Councillor Burkitt’s absence, the Committee agreed that the report be DEFERRED to the next meeting.