Issue - meetings

Pension Fund - Advance Payment

 

 

Meeting: 20/05/2020 - Council (Item 9)

9 Pension Fund - Advance Payment pdf icon PDF 63 KB

Report of Director of Finance

 

Purpose of report

 

To consider and approve advance payments to the Oxfordshire Pension Fund in order to lower the overall cost over a three-year period.

 

Recommendations

 

The meeting is recommended:

 

1.1          To consider and approve making an advance payment at the end of May 2020 of £3.4m to the Oxfordshire Pension Fund covering the payments due of £1.7m for 2021/22 and 2022/23, reducing the overall cost to the Council.

 

Decision:

Resolved

 

(1)           That, having given due consideration, making an advance payment at the end of May 2020 of £3.4m to the Oxfordshire Pension Fund covering the payments due of £1.7m for 2021/22 and 2022/23, reducing the overall cost to the Council be approved.

Minutes:

The Director of Finance submitted a report to consider and approve advance payments to the Oxfordshire Pension Fund in order to lower the overall cost over a three-year period.

 

Resolved

 

(1)           That, having given due consideration, making an advance payment at the end of May 2020 of £3.4m to the Oxfordshire Pension Fund covering the payments due of £1.7m for 2021/22 and 2022/23, reducing the overall cost to the Council be approved.