Issue - meetings

Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk),presented the report. The Covid-19 pension report provided updates on Covid-19 regarding the running of the pensions fund and included the investment and administration side of the fund. He continued that this report focused on the administration side as the investment side was reviewed in the Pensions Fund Investment Sub-Committee.

The report provided a summary of the risk register for the fund itself which included the volatility of the markets, the impact on investments during the Covid-19 period and risks of employer contributions not being paid. Chris Norton continued that employer contributions are as much administration issue as an investments issue, and this is an where risk is significantly higher.

He concluded that the funds had been able to continue critical operations and physically continue to run. The fund itself had finished its restructure and new officer positions had been filled, including a pension administrator manager.

The Chair commended the fund team’s ability to carry on working as usual.

Resolved

That the Staff and Pensions Committee notes and comments on the report.