Decision details
To award a contract to ISIO for Pensions Advisory Engagement following the transfer of Cheltenham Borough Homes
Decision Maker: Deputy Chief Executive (Section 151 Officer) - Paul Jones
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision:
To award a contract to ISIO for Pensions
Advisory Engagement following the transfer of Cheltenham Borough
Homes (CBH) into Cheltenham Borough Council (CBC) in advance of the
next triennial revaluation.
Reasons for the decision:
The Cabinet report, ‘Housing
Regulations, Cheltenham Borough Homes Review’ approved on
17th October 2023, articulated that during the transition phase the
Council will engage an independent actuarial consultant in order to
assess the pension implications set out in paras 5.10 to 5.11 of
said report.
ISIO will provide 2 phases of work:
LGPS “look see” analysis for CBC and CBH In order to
consider the positive impact of the significant investment market
changes;
Strategy planning and initial engagement with the Gloucestershire
Pension Fund
Alternative options considered:
The Council could consider not proceeding with
the above analysis, however this was rejected due to the fact that
pension contributions are a material element of the base budget
which require robust scrutiny and challenge.
Declarations: n/a
Other reasons / organisations consulted
The Cabinet report, ‘Housing
Regulations, Cheltenham Borough Homes Review’ approved on
17th October 2023
Contact: Gemma Bell, Director of Finance and Assets and Deputy S151 Officer Email: [email protected].
Publication date: 03/04/2024
Date of decision: 18/03/2024