Decision details

A report was presented on the one year budget for the Lancashire County Pension Fund for the year ending 31^st March, 2020, which forecast that the net income available for investment (before accounting for changes in the market value of investments during the year) would be £13.3m.

In considering the report the Committee noted that following a review the level of recharges to the County Council had been increased in recognition of the increased use of Legal Services. The forecast reduction in contribution income from employers as a result of the accounting treatment of amounts paid in advance was also discussed and the reduction in property expenses set out in the budget was welcomed.

Resolved: That the Lancashire County Pension Fund budget for the year ending 31^st March 2020, as set out in Appendix 'A' to the report presented, is approved.