An update on the effect of soaring UK Inflation on LGPS
To receive a verbal update from Bola Tobun (Finance Manager, Pensions & Treasury)
Minutes:
The Board received a verbal update from Bola Tobun.
Concerns were expressed by the Board concerning the effects of soaring inflation and cost of living increase may affect employee’s ability to continue to pay pension contributions. So far this has not had an adverse effect, but it will be monitored and more likely to see effects next year.
The Pension, Policy and Investment Committee are also looking into this.
ACTION: Include this item on the next Pension Board Meeting Agenda.