Matters arising
To receive a verbal update from the Chair.
Minutes:
In response to questions raised regarding the payment of a refund to a scheme member within five years of the date of leaving, the Pension Fund Manager advised that the National LGPS Technical Group will make a recommendation to the Scheme Advisory Board to change the regulations to reflect the position prior to 1 April 2014, (i.e. to remove the prescription that requires an administering authority to pay a refund on the expiry of a period of five years beginning with the date the person's active membership ceased, if no request is made before then – regulation 18(5) of the LGPS Regulations 2013 [SI 2013/2356]).
Matters arising
To receive a verbal update from the Chair.