Decision details
North Yorkshire Pension Fund 2022 Funding Strategy Statement
Decision Maker: Chief Executive Officer
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
To approve the North Yorkshire Pension Fund
2022 Funding Strategy Statement
Decision:
Under his emergency delegated decision-making
powers in the Constitution, the Chief Executive Officer has taken
the decision to approve the North Yorkshire Pension Fund 2022
Funding Strategy Statement as identified under Item 7, Appendix 3
of the Pension Fund Committee meeting that was adjourned on 9th
September 2022.
PLEASE NOTE that this decision is a non-executive decision and as
such is not open to call-in.
Reasons for the decision:
Under his delegated decision making powers in
the Officers’ Delegation Scheme in the Council’s
Constitution, the Chief Executive Officer has power, in cases of
emergency, to take any decision which could be taken by the
Council, the Executive or a committee.
The approval of the North Yorkshire Pension Fund 2022 Funding
Strategy Statement was due to be considered at the meeting of the
Pension Fund Committee on 9 September 2022 however the meeting was
adjourned in line with the Council’s agreed approach during
the national period of mourning following the death of Her Majesty
Queen Elizabeth II.
The issue of the approval of the Funding Strategy Statement is time
sensitive as it effectively sets the context for the
employers’ valuations and their contribution rates. The
timescale is urgent to ensure that sufficient time is given to the
employers to consider the impact on their respective organisations
as part of a consultation process. The decision therefore cannot
await the next meeting of the Pension Fund Committee on 25 November
2022.
Alternative options considered:
The Council could choose not to seek a
decision under the Chief Executive Officer’s emergency
delegated powers however that would impact the timescales of this
matter to such an extent that it would jeopardise the Council and
the public’s best interests.
A further option is to convene a short notice special meeting of
the Pension Fund Committee to deal with this issue alone, however
this would need to be a physical meeting for a formal decision to
be taken and would not enable the matter to be dealt with as
quickly, again putting pressure on the timetable.
Publication date: 21/09/2022
Date of decision: 21/09/2022