Agenda item

Consideration was given to the report of the Corporate Director, Resources which informed Members of the overall value of the Pension Fund as at 31 December 2013, and of any additional sums available to the Managers for further investment, or amounts to be withdrawn from Managers (for copy see file of Minutes).

Hilary Appleton, Strategic Finance Manager – Corporate Finance advised that in view of the proposed appointment of new Fund Managers no money would be added to the sums to be allocated for investment in the quarter, and Fund re-balancing had been suspended until the results of the Strategy Review were put into operation.

At the request of the Committee, Hilary Appleton advised that details of the current deficit in the Fund would be provided in the Actuary’s report.

Resolved:

That the information given be noted and Members of the Committee be provided with details of the current deficit in the Pension Fund.