Issue - meetings

The Committee had before it a report by the Director of Resources which provided details of the 2023 triennial valuation for the North East Scotland Pension Fund including the proposed assumptions outlined in the Draft Funding Strategy Statement.

The report recommended:-

that the Committee –

(a)      agree the funding approach outlined in the 2023 Funding Strategy Statement including the assumptions used in the calculation of the Fund liabilities for the triennial valuation as at 31 March 2023; and

(b)      note the overall whole Fund valuation as at 31 March 2023 (using the proposed assumptions).

The Committee resolved:-

(i)       to note that officers would provide the scheme actuary commentary in respect of the proposed contribution rates, either before or alongside the report to the March Committee; and

(ii)       to approve the recommendations.