Ms Miriam Adams, Interim Head of Pensions and Treasury stated the detail regarding changes to the FSS statement had been explained by Mr Dodds and attached at item 5.4 was the revised FSS policy. She said the FSS took into consideration the new regulations that came into force in September 2020 and included the draft FSS policy appended at appendix A of the report.  She said employers and stakeholders had been consulted in relation to the changes made to the policy and asked members to approve the revised statement.

In response to questions and comments from members the following was noted:

• No comments had been received from Employers

The Pension Committee RESOLVED to:

1. Note the content of the report; and
2. Approve the revised Funding Strategy statement as set out in Appendix A, which included the draft policy for ‘Flexibility in Contribution Rates’ and ‘Deferred Debt Agreements.’