Issue - meetings

28.1     The Committee considered a general update report.

28.2     The Committee RESOLVED to note the report.

1.1.        The Board considered a general update on pension issues.

1.2.        BR asked why the projected outturn for employer contributions in 2017/18 is now considerably higher than the original prediction.

1.3.        OO explained that the adjustments to employer contributions from the triannual valuation are in place and there is an expectation that employer contributions will therefore go up, hence the £7m higher projected (as at 30 June 2017) outturn in the 2017/18.  

1.4.        The Chair observed that a lot of funds are cash flow negative, so it is good news that the ESPF is in such good shape.

1.5.        The Board RESOLVED to note the report.

14.1    The Board considered a general update on pension fund business.

14.2    The Board RESOLVED to note the report.