Chairman's Announcements
Minutes:
2010 Valuation
The Chair reminded the Committee that the next meeting will take place on the 30th September, with the presentation of the Triennial Valuation results being the single item on the agenda.
It was explained that the funding level at 31 March had originally been estimated to be around 65%. However this is likely to increase by around 8-10% on the back of recent government announcements, namely the move from the RPI to CPI for pension increases, the two year public sector pay freeze, along with the inclusion of more Fund specific longevity analysis. All of these will reduce overall liabilities.
Members’ Training
The Chair explained that Members will have received by email a Training Needs self assessment questionnaire. Members were requested to complete and return these to the Head of Pensions by 30September.
Following receipt of these forms, one-to-one sessions will be organised with the Head of Pensions and the Fund Investment Manager to run through any issues, comments or concerns to enable a new members training plan to be updated for the December Committee.
Members were asked to note that a training session is in the process of being organised and that it will address the remaining areas from the 2010 training plan. This will take place on the 03 November. An email will be sent to members of the committee when details have been finalised.