Meeting Minutes - Scottish Canals

The Board approved a core grant of £0.3m to SWT for the period 1 st January 2013 to 31 st December
2013 subject to the approval of SWT’s Business Plan to the Board in January 2013. This was an
increase of 33.5% from the current grant level.
Action: The SWT Business Plan to be presented to the Board in January 2013
The employees of TWT in England & Wales had transferred to CRT and the TWTS employees would
transfer to SWT at completion. All former TWT employees would remain members of the Waterways
Pension Fund and TWT would no longer be a participating employer in the Fund. The Deed of
Accession to enable SWT to participate in the Waterways Pension Fund was noted. This applied to the
current employees (4) who were able to participate in this Fund. The Fund was now closed to new
members.
CRT had agreed to underwrite the costs of pensions for the former TWT employees in England &
Wales and SC would be required to underwrite the pension costs of the Scottish employees, (4 in
total).
IT WAS RESOLVED that:
The Board approve the Deed of Guarantee to guarantee the liabilities to the Fund of the members of
The Scottish Waterway Trust and that the Deed of Guarantee be executed on behalf of the board by
the Chair.
Action: the pension provision options for SC/SWT employees to be reviewed in due course.
Date of Next Meeting
The next meeting would be held on 22 nd November 2012 at The Falkirk Wheel (to be confirmed).
Signed ……………………………………. Dr Jonathan Hargreaves
Date ………………………..
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