Report of the Treasurer – Report to Follow

Contact: James Walton

That the Pension Liability charges for 2025/26 as set out in section 7 of the report below in line with the policy approach as approved by Joint Committee in the Policy decisions 2024/25 report 20th September 2024, be approved.

That the amounts due to be paid by each Member Authority in respect of the Member Authority Liability Charges set out in section8 of the Treasurers Report, and the payment mechanism set out in section 9 of the Treasurers Report be approved.

The Treasurer, James Walton presented the report, detailing the Pension Liability Charges 2025/2026. He explained that the largest element, the deficit recovery payment, was already paid upfront for three years in 2023, so no new payment was required this year. The other costs were outlined and it was noted that the process was designed to be simple, with a single annual invoice and minimal administration.

RESOLVED:

1.    That the Pension Liability charges for 2025/26 as set out in section 7 of the Treasurers Report in line with the policy approach as approved by the Joint Committee in the Policy decisions 2024/25 report 20th September 2024, be approved.

2.    That the amounts due to be paid by each Member Authority in respect of the Member Authority Liability Charges set out in section8 of the Treasurers Report, and the payment mechanism set out in section 9 of the Treasurers Report be approved.