Decision details

Exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972. It was considered that in all the circumstances of the case the public interest in maintaining the exemption outweighed the public interest in disclosing the information.

Ms King, the Interim Head of Fund, presented a report on the updated Risk Register for the Fund and specific register regarding risks associated with the Covid-19 pandemic.

She highlighted a change to the rating of the risk regarding the ongoing recruitment of a new Head of Fund and reported the addition of a new risk associated with the transition of the Employer Risk Service to the Fund. With regard to references in the Register to an expected report on the updated Investment Strategy Statement Ms King informed the meeting that the finalisation of certain benchmarks had delayed the report which would now be presented to the Committee in March 2021.

Resolved:

1.  That the Lancashire County Pension Fund Risk Registers and summary, as set out in the Appendices to the report presented, are noted.

2.  That a report on the updated Investment Strategy Statement, referred to in the Risk Register, be presented to the next meeting of the Committee.