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 as at 30 June 2019, the movement in the cash balance during the last four quarters and the projected cash flow position up to 30 September 2020 (for copy see file of Minutes).

Members were provided with an update in relation to the McCloud judgement which ruled that changes made by the Government to public sector pension schemes were unlawful on the grounds of age discrimination. Members were informed that the Guaranteed Minimum Pension equalisation may impact upon the Pension Fund’s liabilities by up to 1% which would be addressed during the actuarial valuation process.

Resolved:

That the information contained in the report be noted.