Decision details

(1)       The recommendation from the Government Actuary Department for the Administering Authority to develop a plan to address the employer-risk inherent within the closed West Midlands Integrated Transport Authority Pension Fund (WMITA PF), part of the Local Government Pension Scheme (LGPS) was noted.

(2)       The principles approved by the West Midlands Pension Fund Pensions Committee and further due diligence being undertaken to consider consolidation of the West Midlands’ LGPS Pension arrangements was noted.

(3)       It was noted that this report had been seen, consulted and commented upon by the Constituent Authorities via their Finance Directors.

(4)       The merger of the WMITA PF with the West Midlands Pension Fund was approved in principle.

(5)       The Director of Finance and the Monitoring Officer, in consultation with the Portfolio Lead for Finance & Investments were given delegated authority to conclude all necessary work.