- Whether to award members with added years of service in certain circumstances;
- Giving members approval to purchase additional years of service in the Fund;
- Allowing members to retire early without an actuarial reduction being applied to their benefits.
An issue often over-looked by employers participating in a Local Government Pension Schemes is that each admitted body is required to have a Discretions Policy in place. This Policy must be published, kept under regular review, and a copy must be sent to the administering authority. A Discretions Policy will set out how your organisation will deal with certain aspects of member benefits that require a decision from the employer prior to being agreed/paid. Examples include (but are not limited to):