The Director of Pensions introduced the report which set out details of a pensions review, launched by the Chancellor, with the objective of boosting investment, increasing saver returns and tackling waste in the pensions system. It was reported that a call for evidence was issued on 4 September and was to close on 25 September. The call for evidence was discussed with members on 18 September at the Investment Monitoring Working Party

Members noted that the timescales to prepare a response were extremely short. The Director confirmed that this had been raised with the government and that in response it was confirmed that the initial call for evidence would be followed by a full consultation process for a longer period to provide comprehensive deliberation on the matters.

Resolved – That

1.  The report be noted; and

2.   The Director of Pensions, in consultation with the Chair and Spokespersons, be authorised to approve the response to the call for evidence on behalf of the Fund with the directors of Greater Manchester and West Yorkshire pension Funds on behalf of the Northern LGPS Investment Pool.