Compensation to the pension fund for the reduction of the active membership

The Governing Board of the Pension Fund has proposed (cf. attached document) that the Finance Committee recommend Council to approve compensation to the Pension Fund for the reduction of the active membership in 1998 in accordance with document CERN/FC/4074 ? CERN/2241. At the TREF meeting of 19 November 1999, while the Management indicated that it had no objection to the Governing Board?s proposal, most delegations were in favour of postponing implementation of the compensation until the next actuarial review. As a consequence, the Management feels it necessary to hold further discussions with the Governing Board of the Pension Fund before submitting a proposal to Finance Committee and Council. At this stage, the Management invites Finance Committee and Council to take note of this document.