Decision details

The Head of Treasury and Pensions introduced the report.  The Scheme Actuary has estimated a funding level of 71.3% as at 31 March 2018.  The Actuary will be attending a Committee meeting during 2018 as part of the planning for the 2019 triennial valuation.

The Government Actuary’s Department reviewed the Fund’s 2016 triennial valuation report and issued a one page report considering compliance with Regulations.  They noted that the Scheme’s funding level is low compared to other LGPS but that the plan to achieve full funding is credible.   Concerns with the quality of data provided to the Scheme Actuary were mentioned at a meeting with Barnet officers.

Having considered the report:

That the Pension Fund Committee note the funding update and the GAD

scorecard.