The Head of Pensions Administration introduced the report of the Director of Pensions which provided board members with a copy of the LGPS update report that was presented at the September meeting of the Pensions Committee. Members of the board were advised of the new governments legislative programme and proposed bills such as the National Wealth Fund and how they could impact the Pension Fund.

Board members raised concerns about the Government Landmark Pension Review and the actions relating to pooling and fund mergers and whether this would apply to the Merseyside Pension Fund (MPF) and were advised that the outcome was uncertain but relative to many other LGPS funds, MPF was large enough to make it sustainable on its own.

Resolved – That the report be noted.