Decision details
Review of Pension Scheme Funding Risks
Decision Maker: Local Pension Board
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decisions:
The Head of Treasury presented a report which outlined the risk register relating to scheme funding and procedures in place to manage these risks.
The Board questioned whether the Council had the assessed the potential liability if an admitted body failed and the admitted body had a funding deficit. The Head of Treasury reported that in additional to any bond or guarantor, that the previous employer, normally the Council, guarantees deficits in the event of a default and that information relating to these scenarios were made available at the valuation to the Actuary.
RESOLVED that the Board note the Pension Fund Risks as set out in the report.
Publication date: 22/02/2018
Date of decision: 14/02/2018
Decided at meeting: 14/02/2018 - Local Pension Board
Accompanying Documents: