Issue details
GUARANTEE BY BLACKPOOL COUNCIL TO ENTER INTO A GUARANTEE AGREEMENT WITH LANCASHIRE COUNTY COUNCIL AS ADMINSISTRATORS OF THE LOCAL GOVERNMENT PENSION SCHEME
A formal contract to be entered into between Blackpool Council and Lancashire County Council, guaranteeing the performance of Blackpool Coastal Housing (BCH) Limited being a member of the Lancashire Pension Fund. This formalises an existing arrangement whereby Blackpool Council as ‘parent company’ of BCH effectively underwrites all of the latter’s liabilities. By doing so BCH will not be penalised by having to pay a risk premium on its employer’s pension contributions.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 05/02/2020
Decision due: 5 Feb 2020 by Director of Resources
Lead member: Leader of the Council and Cabinet Member for Tourism, Arts and Culture
Lead director: Director of Resources
Decisions
Documents
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