Decision - To provide access to the South Yorkshire Pension Fund (LGPS) for Carroll Cleaning Company (Crookesbroom Primary Academy) by way of Admission Agreement, effective 01/09/2023.

Decision details

To provide access to the South Yorkshire Pension Fund (LGPS) for Carroll Cleaning Company (Crookesbroom Primary Academy) by way of Admission Agreement, effective 01/09/2023.

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Decision Maker: Assistant Director - Pensions

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Reasons for the decision:

Financial:In the event of financial failure (liquidation) of the Admission Body, any unfunded liabilities which remain outstanding upon crystallisation of the Admission Agreement, would fall to be met by the academy (as the outsourcing scheme employer). There is no bond in place to mitigate such risk. The rationale for no bond being that the academy would re-employ the transferees as it has a statutory duty to provide cleaning services to its pupils, and thus a redundancy scenario (with potential fund strain costs) would be avoided.

HR: None

ICT: None

Procurement: None

Alternative options considered:

Finance Signatory: GT
Finance Date: 16:10:23
HR Signatory: SB
HR Date: 16:10:23

Publication date: 22/04/2024