BRERETON AND RAVENHILL PARISH COUNCIL
Minutes of a meeting of the Finance and Management Committee held at the Parish Hall, Ravenhill
Park, Brereton, on Wednesday, 4th October 2017.
Present
Councillors Miss IJ Brown [Chairman], K Ansell, Mrs DM Easton and R Easton.
Apologies for absence were received from Councillors Mrs P Ansell, H Farnath, Miss C Harvey,
Mrs G Harvey and Mrs HJ Southwell.
Mr PG Davies, the Parish Clerk, was also in attendance.
1. DECLARATIONS OF INTEREST
There were no declarations given at the commencement of the meeting.
2. MINUTES
RESOLVED
That the minutes of the meeting held on 6th September 2017, be approved and signed as a
correct record.
3. ACCOUNTS FOR PAYMENT
The Clerk circulated a schedule of accounts for payment.
RESOLVED
That authority be given for the payments included on the submitted schedule.
4. FINANCE REPORT
The Report of the Clerk showing the financial position of the Parish Council as at
31st August 2017, was received for information and noted by the Committee.
5. RISKS
The Clerk presented a schedule giving details of those areas of the Parish Council’s work
carrying a higher risk.
Members reviewed the risk factors relating to the Parish Council’s website and it was
RESOLVED
That the Clerk invite all Parish Councillors to give their opinion on the website to facilitate a
discussion at the next meeting of the Parish Council.
6. LOCAL GOVERNMENT PENSION SCHEME ACTUARIAL STRAIN – COSTS FOR
EARLY RETIREMENT
The County Council had advised that when an employer agrees to the early retirement from
age 55 for an employee who is a member of the Local Government Pension Scheme,
typically on grounds of redundancy or “flexible retirement”, there could be an additional
employer’s contribution payable to the Pension Fund; this additional payment is known as
actuarial strain and is the cost to the employer of permitting the early payment of a pension
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benefit.
At each triennial valuation the Fund Actuary reviews the factors which are used in the
actuarial strain calculation. Following a review of the factors the Pension Fund had been
advised to implement revised factors. The revised factors had the effect of increasing the
actuarial strain costs by approximately 35-40%. The Fund Actuary had provided an
explanation regarding the increase in costs.
“We are in effect catching up for 6 years’ worth of changes to expected investment returns
and pay growth. When a member retires early the Fund gains due to the lack of future pay
growth being included in their pension, but it loses out due to future investment returns not
being received between now and normal retirement date. In the past 6 years, pay growth
expectations have fallen, but investment return expectations have fallen more. Therefore,
the net effect of the last 6 years’ market movements mean that early retirements are more
expensive to award.”
RESOLVED
That the advice from the County Council be duly noted.
7. DATE AND TIME OF NEXT MEETING
RESOLVED
That the next meeting be held on 15th November 2017, at 8.00 p.m.
8. EXCLUSION OF THE PRESS AND PUBLIC
RESOLVED
That in accordance with the Public Bodies [Admission to Meetings] Act 1960 [as amended],
the press and public be excluded from the remainder of the meeting.
9. STAFFING – PART-TIME CARETAKER
The Clerk reported that Isabel Lloyd had given one month’s notice and would be leaving
the employment of the Parish Council on 6th October 2017.
RESOLVED
1. That the Clerk arrange to advertise the vacancy on 16 hours a week on the Parish
Council’s website.
2. That an interviewing panel comprising of Councillors Ms IJ Brown, Mrs DM Easton
and R Easton, together with the Clerk, be formed to appraise any suitable
candidates for the vacancy.
3. That following 2. above, the Panel be authorised to make an appointment to fill the
vacancy.
4. That if wishing to do so, the successful applicant be permitted to join the Local
Government Superannuation Scheme.