Decision details

AGREED RECOMMENDATIONS

Reasons for decision – to support the reduction of the pension fund deficit in a financially advantageous way to both the General Fund and the Pension Fund.  

Other options considered – as detailed in the report, the council also considered treating the deficit recovery payment as an investment, and also a ‘glide path’ approach which contributes additional money to the deficit recovery plan in earlier years and gives a less stark increase in later years.

Conflicts of interest / dispensations granted – none