Agenda item

Report of the Chamberlain.

The Committee considered a report of the Chamberlain in respect of the Pension Fund.  The preliminary results of the Pension Fund Actuarial Valuation as at 31 March 2019, undertaken by the Fund’s Actuary, Barnett Waddingham LLP, were appended to the report.

RESOLVED, that:

1.    The Pension Fund deficit recovery period be set at 14 years from 2020/21.

2.    The employers’ overall contribution rate remain at 20.7% with the City of London Corporation’s contribution rate remaining at 21.0% for the financial years 2020/21, 2021/22 and 2022/23.

3.