Report attached, marked 8.

Contact: Debbie Sharp (01743) 252192

22.1  The Board received the report of the Pensions Administration Manager – copy attached to the signed Minutes – which provided information on how the fund manages the different employers participating in the scheme and the measures in place to protect the fund in the event of employer insolvency.

22.2  The Pensions Administration Manager took Members through the main points of the report and explained that regulations now gave full cover to all of the scheme employers, whereas under previous regulations some bodies did not have to provide a guarantor or Bond, eg old Local Authority colleges, so although they had to be in the fund, with no guarantor or bond, they were a risk to the fund.  Admitted bodies were only allowed in the scheme if they could provide a guarantor or bond.  As at 31 March 2018 the fund had four Admission Bodies with no guarantor, three of these had bonds however one had no cover.

22.3  RESOLVED:

          That the contents of the report be noted.