Decision details

The Committee considered a report on the financial results of the Fund for the six months ending 30^th September 2019 compared to the budget for the same period together with an updated forecast for the full year to 31^st March 2020. It was reported that the current underspend on pension benefits was most likely a consequence of budget assumptions rather than payment delay and an update would be presented to the Committee in March 2020. The Head of Fund also reported that work had been done in relation to the accuracy and transparency of investment management fees and further details would be presented to the next meeting.

The Chair reminded members of the Committee that a presentation would be given at the workshop later in the day with regard to the Local Pensions Partnership 2020/21 budget.

Resolved: That the report is noted and updates regarding any underspend on pension benefits and the accuracy/transparency of investment management fees be presented to the next meeting.