Decision details

To enter into an agreement under Section 113 of the Local Government Act 1972 to provide Pensions and Treasury services to Bexley Council.

1.  That the establishment of a two-way shared Pensions and Treasury service with the London Borough of Bexley (Bexley) pursuant to Section 113 of the Local Government Act 1972, with London Borough of Southwark (Southwark) acting as the host authority, for a period of three years, with the option to extend by two further years, with a commencement date of 1 April 2026, be approved.

2.  That the annual fees to be charged by Southwark to Bexley for the Pensions and Treasury service, to increase annually in line with national pay awards be approved.

3.  That the establishment of four new permanent roles to resource the shared service specification for the Pensions and Treasury service, with these being fully funded by the fees charged by Southwark to Bexley be approved.

4.  That the terms of the authority agreement at Appendix 1 of the closed version of the report be agreed.

5.  That it be noted that the arrangement includes the appointment by Southwark of an Interim Pensions Officer to complete Bexley’s 2025-2026 pension fund accounts and annual report prior to the commencement date of 1 April 2026, with all associated costs to be fully reimbursed by Bexley to Southwark, and that this arrangement shall be covered by the authority agreement.

6.  That it be noted that there are no identified Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) matters to consider in respect of this arrangement.

7.  That it be noted that officers in Bexley are presenting a report to their respective authority in relation to this arrangement.

8.  That it be noted that Bexley’s current shared service arrangement with another London borough will end on 31 March 2026 and that the agreement with Southwark must commence on 1 April 2026 to ensure continuity of service.