Agenda and minutes

To note any changes to the membership of the Committee.

There were no changes to the membership of the Committee.

To note the attendance of any non-members of the Committee.

There were no non-members of the Committee present.

To note any apologies for absence or substitutions for the meeting.

Apologies for absence were received from Cllr Gordon King and Cllr Steve Weisinger. Jim Edney (Independent Advisor to the Fund) had sent his apologies and Bob Summers was instead attending as the substitute Independent Adviser from CIPFA Business Services.

To receive any declarations of disclosable interests or dispensations granted by the Standards Committee.

There were no declarations of interest from members of the Committee.

To receive any announcements through the Chairman.

There were no Chairman’s Announcements.

The Council welcomes contributions from members of the public.

Statements

If you would like to make a statement at this meeting on any item on this agenda, please register to do so at least 10 minutes prior to the meeting. Up to 3 speakers are permitted to speak for up to 3 minutes each on any agenda item. Please contact the officer named on the front of the agenda for any further clarification.

Questions

To receive any questions from members of the public or members of the Council received in accordance with the constitution.

Those wishing to ask questions are required to give notice of any such questions in writing to the officer named on the front of this agenda no later than 5pm on Thursday 6 October 2016 in order to be guaranteed of a written response. In order to receive a verbal response questions must be submitted no later than 5pm on Monday 10 October 2016. Please contact the officer named on the front of this agenda for further advice. Questions may be asked without notice if the Chairman decides that the matter is urgent.

Details of any questions received will be circulated to Committee members prior to the meeting and made available at the meeting and on the Council’s website.

There were no members of the public present.

To note that the next regular meeting of the Committee will be held on 15 December 2016.

The next ordinary meeting of the Committee was to be held on 15 December 2016.

There were no urgent items.

Resolved:

That in accordance with Section 100A(4) of the Local Government Act 1972 to exclude the public from the meeting for the business specified in Minute 91  because it is likely that if members of the public were present there would be disclosure to them of exempt information as defined in paragraphs 1& 3 of Part I of Schedule 12A to the Act and the public interest in withholding the information outweighs the public interest in disclosing the information to the public.

The Committee was presented with the results of the 2016 valuation.

Resolved:

a)    To note the paper and verbal report of the Actuary;

b)   To note the assumptions that had been agreed with the Actuary as set out in paragraphs 13-23 of the report;

c)    To note the summary outcomes of the valuation as set out in paragraphs 32 to 33 of the report;

d)   To approve the employer contribution rates for the next three years as summarised in the Appendix, for presentation to the employer bodies on 13 October 2016; and

e)    To note that discussions will be held with employer bodies to finalise the implementation of the employer contribution rates, taking account of any risk based review, and that an update will be presented to the March Committee meeting.

f)     Not before the formal release of the Valuation, to release the HMT funding level to the Scheme Advisory Board with a request for an explanation as to how the figure will be used.