Issue - meetings

(Member lead: Cllr P Box, Author: Angela Taylor)

Resolved: 

(i)    That further work in respect of Option 1, Bulk Asset Transfer, as detailed in

the submitted report be undertaken with regard to the proposed transfer of First Group pension arrangements.

(ii)    That a report be prepared for a future meeting.

(iii)    That should timelines dictate an urgent decision to be made for reasons of getting the best deal, that authority be delegated to the Chair and WYCA’s Managing Director.

The Authority considered a report of the Director of Resources which sought approval to a preferred way of meeting WYCA’s element of pension obligations towards First Group, in response to consultation on a Secretary of State Direction on this matter.

It was noted that currently WYCA was required to pay an element of pension increase relating to people who were previously employed by the former West Yorkshire PTE and Yorkshire Rider who are now part of First Group.  First Group were now seeking to consolidate its pension arrangements to Greater Manchester.

Members discussed the options outlined in the submitted report. 

Resolved: 

(i)         That Option 1, Bulk Asset Transfer, was the preferred option and that further work should be undertaken with regard to the proposed transfer of First Group pension arrangements.

(ii)        That a report be prepared for a future meeting of WYCA for decision unless timelines dictate an urgent decision to be made, then that authority be delegated to WYCA’s Managing Director in consultation with the Chair.