Agenda item

The Committee considered a report of the Corporate Director of Resources which updated Members on the revisions to the Pension Fund Risk Register following a review by the Risk Officer in November 2016 (for copy see file of Minutes).

Councillor Davinson referred to Risk 12 in the report and asked if it should include reference to the potential impact on the Fund if the Government did not extend the April 2018 deadline for the implementation of pooling, given that formal approval had not yet been received. Nick Orton responded that an inability to meet the deadline would not present a direct risk to pension fund scheme members; the transition of assets was not due to start until April 2018.

Councillor Carr asked if the annual statement to scheme members should include information on the pooling of investments and was informed that members had been informed of proposals in a previous communication.  The next communication would be early 2017 and could include an update on the current position.

Resolved:

That the Risk Register attached at Appendix 1 in the report be approved.