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Decision details

DEED OF GUARANTEE: LOCAL GOVERNMENT PENSION SCHEME BLACKPOOL WASTE SERVICES LIMITEDBLACKPOOL HOUSING COMPANY LIMITED BLACKPOOL COASTAL HOUSING LIMITED LANCASHIRE COUNTY COUNCIL

Decision Maker: Director of Resources

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To obtain authority for Blackpool Council to execute deeds of guarantee with Lancashire County Council and:

·       Blackpool Waste Services Limited;

·       Blackpool Coastal Housing Limited; and

·       Blackpool Housing Company Limited

whereby Blackpool Council, as guarantor, guarantees to the Administering Authority (Lancashire County Council) the performance of each of the named companies’ obligations under the Local Government Pension Scheme regulations in respect of scheme liabilities and agrees the manner in which any liabilities to or assets in the Fund shall be dealt with in the event of the company becoming an exiting employer.  Lancashire County Pension Fund have asked for the deeds of guarantee to formalise current arrangements.

 

To grant delegated authority to the Head of Legal to execute the deeds of guarantee.

 

Decision:

To approve the Council entering into the deeds of guarantee with Lancashire County Council, as the Administering Authority for the Local Government Pension Scheme, in respect of:

  • Blackpool Waste Services Limited;
  • Blackpool Coastal Housing Limited; and
  • Blackpool Housing Company Limited.

 

Publication date: 02/03/2023

Date of decision: 02/03/2023

Accompanying Documents: