Decision details

The Head of the Fund, presented a report regarding the budget for the Lancashire County Pension Fund for the year ending 31^st March 2018 and informed the meeting that the budget would be compared with updated figures from the 2017 Actuarial Valuation once they were available.

In considering the report the Committee discussed the various measures which were in place to ensure transparency including internal/external audit, the risk register and Investment Panel. It was also noted that the Pension Board had recommended that in the future an independent external review of the LPP be undertaken to provide further reassurance over financial procedures and controls. 

Resolved: That the budget for the Lancashire County Pension Fund for the year ended 31^st March 2018, as set out in Appendix 'A' to the report presented is noted and approved.