Norfolk launches LGPS tender
A tender for a multi-provider framework to provide transition management and implementation services for the Local Government Pension Scheme has been launched by Norfolk County Council. Founding authorities that will use the framework include Bedford Borough Council, Carmarthenshire and Derbyshire County Councils, the Environment Agency Pension Fund and the London Collective Investment Vehicle.
Government announcement prompts DIY charges suspension
West Sussex County Council has suspended charges for household DIY waste after the government indicated that it was looking to ban such fees. Some authorities have classified DIY as falling outside the definition of household waste and charging for them. However, the council’s chief executive Nathan Elvery said: “In order to avoid any potential confusion for our residents, we have decided to suspend all charges for these types of materials with immediate effect until the review by the government has been concluded.”
Council solar scheme deemed viable
Meanwhile, West Sussex is pressing ahead with plans to expand its programme of installing solar panels on school buildings. The council will invest £3m in fitting out up to 52 additional schools in 2017/18, despite changes to government subsidies for solar. A council report said that despite reduced financial returns, “there is still an opportunity to cost effectively install solar PV systems for electricity production in schools and similar sites.”
Guidance on academies’ LGPS arrangements published
The government has published more details on how Local Government Pension Scheme arrangements for academy schools will work. The guidance says that although some LGPS funds may allow employers in their fund to pool together to generate stability, they will not be obliged to offer this ability.
Stadium deal green lights redevelopment
Leeds City Council has agreed a financial deal which will enable a private developer to redevelop the Headingley Carnegie Stadium. As part of the deal, the council would enter into agreement with a third-party investor to lease the new facilities from the investor. Yorkshire County Cricket Club and Leeds Rhinos would then take sub-leases from the council to cover the cost of the development in full. To protect and reduce the risk to the council, both clubs will have to provide adequate security on both assets and income should there be any default in their rent repayments.