Issue - meetings

Pension Fund Budget 2012/2013

Meeting: 02/02/2012 - Cabinet (Item 276)

276 Merseyside Pension Fund Budget 2012/2013 pdf icon PDF 83 KB

Minutes:

A report by the Deputy Chief Executive/ Director of Finance presented the Merseyside Pension Fund (MPF) budget for 2012/13. The budget had been agreed by the Pensions Committee at its meeting on 17 January 2012.

 

The Deputy Chief Executive/ Director of Finance estimated that during 2012/13 the MPF would pay £262.3m in pensions and receive £251.4m in contributions from employers and employees. The Fund had a value of £4,693m at 30 September 2011. he proposed administration costs of £15.7m including £10.3m of investment management charges to external managers represent a cost of £129.46 per member of the scheme.  The investment management costs were approximately 0.22% of total assets.

 

RESOLVED:

 

That the content of the report be noted.