Issue - meetings

Report FSD16033

The Committee considered a report providing an update on the projected cash flow position for the Pension Fund over the next few years.  The Pension was projected to move into a ‘cash negative’ position within the next five years whereby the total cost of payments to pensioners would exceed the total incoming cash flow to the pension fund from employee and employer contributions and investment income.  Officers were planning to hold a roundtable meeting with the Fund Managers, Chairman and Vice-chairman of the Pension Investment Sub-Committee, Portfolio Holder for Resources and AllenbridgeEpic to explore options for the future investment and asset allocation strategy of the Pension Fund.

The Director of Finance provided an update to the Sub-Committee under part 2 proceedings of the meeting regarding commissioning further work to explore changes in the future asset allocation to reflect the impact of the updated cash flow for the fund.

RESOLVED: That

(a) the report be noted; and

(b) a review of the Pension Fund asset allocation strategy be undertaken and report back to a future meeting of the Sub-Committee.