Public Employees Contributory Retirement Scheme (PECRS): Pre-1987 Debt: Delay in accelerated payment and return of allocated funding to Consolidated Fund

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A decision made 26 May 2015:

Decision Reference: MD-TR-2015-0061
Decision Summary Title:	PECRS delay in repayments of Pre-1987 Debt – return of allocated funding to the Consolidated Fund		Date of Decision Summary:	15th May 2015
Decision Summary Author:	Finance Manager - Corporate Group		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	PECRS delay in repayments of Pre-1987 Debt – return of allocated funding to the Consolidated Fund		Date of Written Report:	15th May 2015
Written Report Author:	Finance Manager - Corporate Group		Written Report : Public or Exempt?	Public
Subject: Delay in the accelerated payment of the PECRS Pre-1987 debt and return of allocated funding to the Consolidated Fund.
Decision(s): The Treasury and Resources Minister approved a non-recurring return of allocated funding of £2 million from the Treasury and Resources (T&R) revenue head of expenditure to the Consolidated Fund as part of the measures balancing the Consolidated Fund in 2015.
Reason(s) for Decision: During the States debate of the 2015 Budget (P.129/2014) the States approved proposed measures to manage the balancing of the Consolidated Fund which included a delay in the accelerated payment of the PECRS Pre-1987 debt.
Resource Implications: Upon approval by the Treasury and Resources Minister, the T&R revenue head of expenditure to decrease by £2 million and the Consolidated Fund to increase by an identical amount in 2015.
Action required: Head of Decision Support to notify the Finance Manager - Corporate Group, Head of Financial Planning and Head of Financial Performance that this decision has been approved.
Signature:		Position: Senator A J H Maclean Minister for Treasury and Resources
Date Signed:		Date of Decision: