Issue - decisions

Proposed Pension Transfer

27/07/2020 - Proposed Pension Transfer

Resolved:

 

(a)       That the revised pension arrangements in relation to liabilities for pension costs for a cohort of bus drivers formerly employed by the predecessor transport authority, as set out in the submitted report, be approved.

 

(b)       That the transfer of assets of £42.5 million to Greater Manchester Pension Fund be approved.

 

(c)        That approval be given to the Combined Authority being admitted to the Greater Manchester Pension Fund for the sole and limited purpose of meeting the pension liabilities in the manner set out in the submitted report.

 

(d)       That the finalising of the required agreements to enable the arrangements to progress be delegated to the Director, Corporate Services.