Issue - meetings

To receive and note the draft financial results for 2021-22.

The Pension Fund Manager presented the report which provided an early draft of the financial results for the Fund for the year ended 31 March 2022, including the change in the fund’s net assets and change in membership numbers. It was advised that, as a result of resource constraints at the external auditors, the pension fund audit had been significantly delayed and was not due to start until mid-December 2022. This meant that the Fund would not achieve its statutory deadline for publishing its annual report and accounts before 1 December 2022. The committee noted that the breach of the law had been self-reported to the LGA and would be recorded on the breaches log but was not deemed significantly material to report to the Pensions Regulator.

RESOLVED:

THAT the Fund’s draft financial results for the year ended 31 March 2022 be noted, and the final year-end position (subject to external audit) be presented to the Committee at its next meeting on 27 July 2022.