Issue - meetings

25.1     The Board considered a report providing an update on the Pension Fund Risk Register.

25.2     Councillor Brian Redman (BR) asked whether the risk “Employers unable to pay increased contributions” would always remain as a ‘red’ risk. Phil Hall (PH), Interim Chief Finance Officer, said that it would remain so for the short term but the long term aim is to achieve full funding for the ESPF and this would reduce the pressure on employers.  The Chair said that the risk would be mitigated, to a certain extent, once the Fund’s actuarial valuation was complete and the employer contribution rates have been set. He said there was no evidence of great stress amongst employers as none of them were in arrears.

25.3     The Board RESOLVED to note the report.