Agenda item

Consideration was given to the report of the Corporate Director, Resources which gave details of the overall value of the Pension Fund as at 30 June 2013 and of any additional sums available to the Managers for further investment, or amounts to be withdrawn from Managers (for copy see file of Minutes).

In response to a comment from Councillor Conway, Daniel Banks advised that liabilities would have fallen between £100-£150m in the period but that it was difficult to give a specific figure. In accepting this the Councillor suggested that it would be useful to include an indicative statement on the performance of liabilities in future reports.

Resolved:

That the information given be noted and no further allocation of cash be made to Managers.