Valuation of the Public Employees Contributory Retirement Scheme as at 31 December 2007

Information about the publication of Ministerial Decisions

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision
providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 20 November 2009 regarding: Interim Report on the Actuarial Valuation of the Public Employees Contributory Retirement Scheme as at 31 December 2007.

Decision Reference: MD-C-2009-0090
Decision Summary Title :	Interim Report of the Chief Minister – Public Employees (Contributory Retirement Scheme) (General) (Jersey) Regulations 1989		Date of Decision Summary:	19 November 2009
Decision Summary Author:	Senior HR Manager		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Interim Report of the Chief Minister - Actuarial Valuation of the Public Employees Contributory Retirement Scheme as at 31 December 2007		Date of Written Report:	17 November 2009
Written Report Author:	Senior Human Resources Manager		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: Interim Report on the Actuarial Valuation of the Public Employees Contributory Retirement Scheme as at 31 December 2007.
Decision(s): To lay before the States an interim Report regarding the deficiency relating to the PECRS 2007 valuation report.
Reason(s) for Decision: The latest PECRS Valuation as at 31st December 2007 was laid before the States on 11 August 2009 and shows a deficiency of £63.2m. Under the Regulations, proposals for dealing with a deficiency need to be agreed between the Committee of Management of the PECRS and the States Employment Board. If no agreement has been reached on proposals within three months of laying the Valuation before the States, then the Chief Minister submits a progress report noting its own proposals. The interim report is to advise States Members that no agreement has been reached on ways to deal with the deficiency. However, in accordance with normal practice, representatives of the States Employment Board are currently in negotiations with the Public Employees Pension Joint Negotiating group (JNG) which represents the interests of all members of the Scheme. A further report will be made to the States by 11 February 2010, confirming whether negotiations have resulted in an agreement between the States Employment Board and the Committee of Management or, if agreement has not been reached, advising that the fall-back position under the Regulations will apply.
Resource Implications: None
Action required: Senior HR Manager is requested to arrange with the States Greffe for the Interim Report to be laid before the States at the earliest possible date.
Signature:		Position:
Date Signed:		Date of Decision (If different from Date Signed):