The Head of Pensions (Finance and Risk) presented the report of the Director of Pensions which provided Members with a copy of reports to be presented to the Pensions Committee in September 2024; namely the Annual Report & Accounts for Merseyside Pension Fund for 2023/24 and a letter of representation prepared by Officers on behalf of the Committee.

The purpose of the Statement of Audited Accounts was to present the overall financial position of the Pension Fund as of 31 March 2024 in accordance with prescribed guidance and the Head of Pensions reported that there was a statutory requirement for the Fund to produce and publish an annual report by 1 December 2024.

In response to a query, the Director of Pensions reported that the Fund had a substantial property that was receiving rent, however, the tenants had vacated the premises at the end of 2023 and there had been no rent received for 12 months which was why the property rental income had fallen but operating expenses increased.

Resolved – That the report be noted.