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Fund as at 31 March 2014, and of any additional sums available to the Managers for further investment, or amounts to be withdrawn from Managers (for copy see file of Minutes).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 informed Members that the results of the valuation showed a reduction in the deficit of about £40m. She was also pleased to advise that the Local Government Chronicle had reported that the Durham Fund was one of the top ten performers in reducing Pension Fund deficits.

Resolved:

That the information given be noted.