Issue - meetings

Valuation Update

Meeting: 26/02/2020 - Pension Advisory Board (Item 57)

57 Review of Pension Fund Policy Documents pdf icon PDF 144 KB

Report by Director of Finance and Support Services.

 

The Board is asked to note the register of policy documents and provide feedback on the policies presented at the meeting.

Additional documents:

Minutes:

57.1   The Board received a report by the Director of Finance and Support Services (copy appended to the signed minutes) which was introduced by Rachel Wood, Pension Fund Investment Strategist, who asked members to consider the list of policy documents at Appendix A. The Board were informed that: -

 

·       The Pension Fund had asked all employers for comments.

·       Re McCloud – the Pension Fund had found a way of keeping rates as they were.

·       There had been little change to the Treasury Management Strategy.

 

57.2   The Board made the following comments on the list of policy documents: -

 

·       The list would come to the next Board meeting on 12 June 2020.

·       The Funding Strategy Statement had been reviewed in February.

 

57.3   Resolved – that the Board notes the register of Policy Documents and that the Funding Strategy Statement and the Treasury Management Strategy comply with the regulatory requirements.


Meeting: 27/01/2020 - Pensions Committee (Item 50)

50 Actuarial Valuation pdf icon PDF 129 KB

Report by the Director of Finance and Support Services.

 

The Panel is asked to:

 

(1)     agree the current version of the Funding Strategy Statement for publication by 31 March 2020, unless amended.

 

(2)     agree that any further amendments to the Funding Strategy Statement can be agreed by the Director of Finance and Support Services, in consultation with the Chairman to allow the Statement to be published by 31 March 2020.

Additional documents:

Minutes:

50.1   The Panel considered a report by the Director of Finance and Support Services (copy appended to the signed minutes).

 

50.2   Rachel Wood introduced the report explaining that the funding strategy statement was attached at appendix 1 showing the amendments as tracked changes.

 

50.3   The Panel made comments including those that follow.

 

     It was confirmed that the valuation cycle was still 3 years and therefore 2022 was the next scheduled review.

     The amended version once agreed would be circulated as a clean document.

 

50.4   Resolved – that

 

1) The Panel agree the current amended version of the Funding Strategy Statement for publication by 31 March 2020.

 

(2) The Panel agree that any further amendments to the Funding Strategy

Statement can be agreed by the Director of Finance and Support Services,

in consultation with the Chairman to allow the Statement to be published

by 31 March 2020.