Issue - meetings

Purpose of the report: A cash-flow analysis allows the Fund to ascertain a projection as to when benefit payments may exceed income. This information can influence both the investment and funding strategy.

Declarations of interest:

None

Witnesses:

Neil Mason, Head of Pensions

Key points raised during the discussion:

1. Members of the Committee were informed that there would be a report from the actuary at the next meeting of the Surrey Pension Fund Committee and that following this this information may be reported annually rather than quarterly.

2. It was noted that there was an error in the submitted report and that the report related to quarters two and three. 

Actions/ further information to be provided:

None.

Resolved:

The Pension Fund Committee noted the cash-flow position for quarters two and three which confirmed that no further action was required and no changes to the Investment Strategy would be required.

Purpose of the report: A cash-flow analysis allows the Fund to ascertain a projection as to when benefit payments may exceed income. This information can influence both the investment and funding strategy.

Declarations of interest:

None

Witnesses:

Ayaz Malik, Pension Accountant Advisor

Neil Mason, Head of Pensions

Key points raised during the discussion:

1. It was noted that the half-yearly (quarters one and two) cash flow for the Surrey Pension Fund showed positive cash flow of £4,112,114.

2. It was highlighted that the figures demonstrating the membership trends for quarter one 2018/19 were not an accurate representation of membership movement.

3. The Head of Pensions indicated that the Committee would receive an update report on cash-flow analysis with the Actuary’s input at its next meeting.

Actions/ further information to be provided:

The Committee to receive revised figures for the statistics provided by the Pensions Administration team on current membership trends.

Resolved:

The Pension Fund Committee noted the cash-flow position for quarters one and two.