Decision details

To seek approval for the proposed transfer of the Bradgate Park Trust local government pension fund assets and liabilities equally to Leicester City Council and Leicestershire County Council.

To approve the transfer of the Bradgate Park Trust’s local government pension fund assets and liabilities equally to Leicester City Council and Leicestershire County Council, on the basis set out in the report and subject to legal approval of the terms of the pass-through admission agreement.

Recognising the Councils’ joint stewardship of the Trust, to remove the Trust’s pension employer risk and the potential impact on its balance sheet and employer contribution rate, whilst retaining pension scheme entitlement for current members; and to resolve the long-standing wider employer risk for the Pension Fund due to the historic nature of the Trust’s status as a Community Admission Body.

Not to approve the transfer.