Purpose

The Local Government Pension Scheme
(Information) Regulations 2024 (S.I. 2024 No. 880) (the
Regulations) state that administering authorities may disapply the
requirement to include the McCloud underpin value in their 2024/25
Annual Benefit Statements (ABSs), if considered reasonable to do so
in all the circumstances in that particular scheme member or class
of scheme members' case. The Regulations state that Administering
Authorities are required to approve the disapplication of the
requirement to include McCloud remedy calculations.

Content

The Executive Director of Resources, in
consultation with the Chair and Deputy Chair of the Pension Fund
Committee, approved the recommendations as set out in the
report.