Agenda item

Consideration was given to the report of the Corporate Director Resources which provided an update on the Pension Fund’s response to the Government’s consultation on the revocation and replacement of the Local Government Pension Scheme (Investment and Management of Funds) Regulations 2009 (for copy see file of Minutes).

Beverley White reported that the response to the consultation had been submitted by the Corporate Director Resources, following consultation with the Chairman and Vice-Chairman of the Committee, before the deadline of 19 February 2016 and was attached to the report at Appendix 1.

In response to a question from Councillor Carr, Nick Orton advised that there was a Government expectation that pooled funds would invest in UK infrastructure, however Funds would remain responsible for their own asset allocation.

Resolved:

That the contents of the response to the Government on the revocation and replacement of the Local Government Pension Scheme (Investment and Management of Funds) Regulations 2009, be noted.