Issue details
Treatment of West Mercia Energy pension liability
Herefordshire Council, together with Worcestershire County Council, Telford & Wrekin Council and Shropshire Council, is one of the member authorities (the ‘Owning Authorities’) of West Mercia Energy (WME) Joint Committee, formerly known as West Mercia Supplies. At the point of sale of the West Mercia Supplies stationery division (WMS) in 2012, the existing pension deficit relating to the former WMS staff was retained within the continuing WME business and is overseen by the WME Joint Committee.
The West Mercia Energy Joint Committee formally approved a request to the Owning
Authorities to take direct responsibility for this pension deficit liability on the 24 September
2019. Having undertaken discussions via their respective senior Finance Officers, the
Owning Authorities are each seeking approval to take on this liability, which is proposed to
be achieved by the transfer of this pension deficit to a newly created ‘employer body’ within
the Shropshire County Pension Fund (‘WMS Pension’) managed and overseen by a new
‘WMS Pension Joint Committee’ comprising the same Owning Authorities
Decision type: Key
Reason Key: Expenditure;
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 07/02/2020
Decision due: 30 April 2020 by Cabinet
Lead member: Cabinet member finance and corporate services
Lead director: Chief finance officer
Department: Corporate Support Centre
Contact: Josie Rushgrove, Head of corporate finance Email: jrushgrove@herefordshire.gov.uk Tel: 01432 261867.
Decisions
- 30/04/2020 - Treatment of West Mercia Energy pension liability
Agenda items
- 30/04/2020 - Cabinet Treatment of West Mercia Energy pension liability 30/04/2020
Documents
- Treatment of West Mercia Energy pension liability