Issue - meetings
2022 Triennial Valuation Plan
Meeting: 23/09/2021 - Pensions Committee (Item 5)
5 2022 Triennial Valuation Plan PDF 264 KB
Additional documents:
Minutes:
Ms Miriam Adams, Interim Head of Pensions and Treasury introduced the report stating that the LGPS regulations required the administering authority to complete an actuarial valuation of their Pension Fund on a three-year cycle. She said the next valuation was due as at 31st March 2022.
Ms Adams said the report set out the high-level summary timetable for the valuation and referred members to paragraph 1.1 and 1.2 of the report as well as the timetable on page 36 of the agenda pack, at paragraph 3.6.
In response to questions from members the following was noted:
- Mr Barry Dodds confirmed that behind the timetable presented at paragraph 3.6 sat a very detailed plan, with contingency built in, in case there was slippage in the timetable.
- Ms Adams said a considerable amount of work was required for the valuation, some of which had already been started. She said in terms of resources the team at present was under resourced however she was recruiting staff and hoped to deliver the valuation on time.
The Pensions Committee RESOLVED to:
- Review and approve the March 2022 Triennial valuation process and Timetable.