The Head of Pensions Administration for Merseyside Pension Fund presented the report of the Director of Pensions which informed Members that following a review of the classification of the Further Education (FE) sector - FE colleges, sixth form colleges and designated institutions - and their subsidiaries in England, the Office for National Statistics (ONS) had reclassified colleges and their subsidiaries as public sector bodies. Confirmation was awaited as to whether a government guarantee will be provided for their liabilities to the Pensions Fund. Once certain, the funding strategy would be reviewed.

Resolved – That the outcome of the Office for National Statistics review of the Further Education sector and the implications for the Local Government Pension Scheme be noted.