Resolved –

1.    That the proposed increase of the probability of funding success to 75%; the proposed 1% increase to be added to liabilities on exit to take into account the potential increase in liabilities for both McCloud and GMP equalisation and the resulting changes to the Funding Strategy Statement be approved.

2.    That the postponement of the employer consultation exercise, agreed in January 2019 in relation to updates to LGPS Regulation 64 pending the outcome of the national consultation and potential changes to the regulations, be noted.

ACTION:       Director, West Yorkshire Pension Fund