Agenda item

The Committee considered a report of the Corporate Director of Resources which provided an update on the overall value of the Pension Fund’s investments at 31 March 2019, the movement in the cash balance during the last four quarters and the projected cash flow position up to 30 June 2020 (for copy see file of Minutes).

With regard to the cash flow forecast, Councillor Carr asked if the pension increase was 2.4% of the overall pension fund.  He was advised that this was the rate of inflation applied to payments of pensions with effect from 1 April 2019.  Councillor Carr further asked if the number of retirements had been taken into account for the valuation.  He was informed that the cash flow forecast was continuously reviewed and refined to take the most up-to-date information into account.

Councillor Temple asked if money was taken out of Blackrock and was informed that the cash flow was managed by disinvestment and whilst we had BCPP transaction this would be the case for some time.

Resolved:

That the information contained in the report be noted.