Issue - meetings

2019 ACTUARIAL VALUATION

Meeting: 26/07/2018 - West Yorkshire Pension Fund Joint Advisory Group (Item 15)

15 ACTUARIAL VALUATION 2019 pdf icon PDF 78 KB

The report of the Director, West Yorkshire Pension Fund (WYPF),

(Document “J”) advises Members that the next triennial Actuarial valuation of the Fund is due at 31 March 2019 and that this will determine employer contribution rates from April 2020 onwards.

 

An initial meeting with the Actuary will be arranged in autumn 2018 when issues relating to the valuation and investment markets will be explored in some depth..

 

Recommended –

 

That the report be noted.

(Rodney Barton – 01274 432317)

Decision:

Resolved –

 

That the report be noted.

 

ACTION: Director, West Yorkshire Pension Fund

 

(Rodney Barton – 01274 432317)

 

Minutes:

The report of the Director, West Yorkshire Pension Fund (WYPF),

(Document “J”) advised Members that the next triennial Actuarial valuation of the Fund was due at 31 March 2019 and that it would determine employer contribution rates from April 2020 onwards.

 

It was explained that an initial meeting with the Actuary would be arranged in autumn 2018 when issues relating to the valuation and investment markets would be explored in some depth.

 

A Member referred to the current difficult market conditions and his belief that, in such a market, it would not be prudent to consider any reduction in contributions until the fund was 140% funded.  It was confirmed, in response, that discussions were held with the finance directors of all five local authorities and the fire service and in those discussions the message was communicated that although the fund was in surplus there was no intention to reduce contributions.

 

Resolved –

 

That the report be noted.

 

ACTION: Director, West Yorkshire Pension Fund