Agenda item

Consideration was given to the report of the Corporate Director, Resources which asked Members to agree a response to a recent call for evidence on the future structure of the Local Government Pension Scheme (for copy see file of Minutes).

Councillor Carr asked if consideration had been given to merging the regional Pension Funds. Don McLure advised that this had been discussed at a regional meeting as part of the consultation process where it had been established that there was no appetite to merge at present.

Following a question from Councillor Conway about the viability of ‘pooling’ Investment Managers, the Advisers stated that Managers would be reluctant to invest such large sums of money as they become too big to remain effective and were more difficult to manage.

Resolved:

That the response set out in Appendix B be agreed and Members submit any suggested changes by no later than 20 September 2013.