Agenda item

The Committee considered a report of the Corporate Director of Resources which informed Members of the overall value of the Pension Fund as at 30 September 2016, and of any additional sums available to the Managers for further investment or amounts to be withdrawn from Managers (for copy see file of Minutes).

Councillor Carr asked if there had been any indication from other employers in the Fund that there would be a reduction in membership, and if cash flow would be affected as a result of the local elections in May 2017 when some Councillors would no longer be contributing to the scheme. Nick Orton informed the Committee that there had been no information received from employers and any sums payable to Councillors who left the scheme in May 2017 would not materially affect the cash flow position. As Members were aware employer contributions were to increase and cash flow would be closely monitored in conjunction with a review of the Investment Strategy.

Resolved:

That the information contained in the report be noted.