Public Employees Contributory Retirement Scheme (PECRS) fund usage (FOI)
Public Employees Contributory Retirement Scheme (PECRS) fund usage (FOI)Produced by the Freedom of Information office
Authored by States of Jersey and published on 03 June 2015.
Prepared internally, no external costs.
I am curious about the circumstances where a very large sum was allegedly taken from the PECRS fund by the States for “other” usage and has not yet been paid back. Can you tell me when this occurred - the total amount taken – and the amount still outstanding and any interest (if paid) by the States for this sum.
Can you please confirm as to what large sum you believe has been allegedly taken out of the PECRS fund to be used for other purposes and not repaid. It is our understanding that no such amounts have been taken from the PECRS fund and it would be helpful to understand what you have heard so that your question can be fully answered.
Can you confirm that at no time that no funds were taken out of the/any PECRS account for any reason and if this was done any reasoning and the amount outstanding and how repayments have been made.
If funds were taken the reason for taking and who authorised same and where the money went.
If no repayments have been made any valid reasoning. If there are any facts inexorably linked to the above please include them in any response.
The States of Jersey has not taken funds from the Public Employees Contributory Retirement Scheme (PECRS) to be used for “other” purposes.
The Public Employees Contributory Retirement Scheme (PECRS) is governed by Regulations under the Public Employees (Retirement) (Jersey) Law 1967 and these Regulations specify the payments that can be made from the Scheme. The PECRS Committee of Management is responsible for ensuring that benefit payments from the Scheme are in accordance with the Regulations. The States of Jersey has not taken funds from the Scheme to be used for “other” purposes.