The Head of Pensions Administration introduced a report which provided members of the Board with MPF’s Draft Funding Strategy Statement (FSS) for 2022. The Board were asked to consider the actuarial assumptions adopted, deficit and surplus recovery plans and the policies within the FSS. Whilst it was noted that funding position at this valuation was considered positive, the key communication that had arisen from the valuation was for employers to balance contribution affordability versus sustainability given the global economic and inflationary outlook post valuation date. It was noted that a consultation with employers took place on the key changes to the FSS from 31 October to 2 December 2022. 

Resolved – That the report be noted.