Issue - meetings

The Committee had before it a report by the Director of Resources which sought approval for the intention to adopt ‘investment buckets’ as a risk strategy for managing liabilities at an employer level.

Members asked a number of questions in relation to the proposal and officers advised that if any employers wished to participate, detail would come before Committee at that time.  During the discussion, Members suggested that the wording ‘Higher Risk’ be amended to ‘Standard Risk’ and officers undertook to make that change.

The report recommended:-

that Committee –

(a)      approve that the Pension Fund Manager move forward with the policy on Investment Buckets and continue work around issuing a consultation on the amended Funding Strategy Statement; and

(b)      note that further information on the investment buckets, assumptions and implementation would be provided to Committee in the form of the draft Funding Strategy Statement in June 2022.

The Committee resolved:-

(i)       to request that officers amend the ‘Higher Risk’ terminology to ‘Standard Risk’; and

(ii)       to otherwise approve the recommendations.

The Board resolved:-

to note the decision of the Committee.