There was then a report on Carbon reduction. The officer said this detailed the arrangements Wirral Council was making regarding its property portfolio. Castle Chambers was within Wirral’s Budget. Energy Champions had been appointed and the other tenants were complying with Wirral Council. Regarding the more distant property the Fund had an interest in, Richard Ellis and the tenants were making sure they would keep energy usage as low as can be. There was a change from 2012 however the emissions were consistent with Wirral Council’s strategy. The Chair asked the committee to endorse the proposals which were agreed.
Report 16 (with its appendix started with an apologies that Patrick McCarthy and the Director of Finance Ian Coleman couldn’t make the meeting. The report was about the government’s consultation on the Fair Deal policy which related to workers transferred out to a private contractor and how their pension rights were protected. The new employer had to offer a comparable scheme or could be admitted to the Local Government Pension Scheme. The consultation had had a closing date of the 15th June and a response had been submitted. The approved response was at page 75. There were issues of major concern, the first being that if large numbers of public sector workers were switched to the private sector that they had no right to remain in the Local Government Pension Scheme. This would have a negative impact on the makeup of the Fund and funding arrangements. The annexe detailed the number of staff with protected pension rights. This came to 4,500 employees.