WELCOME TO: HERTFORDSHIRE LGPS EMPLOYERS MEETING Hertfordshire County Council www.hertsdirect.org.
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Post on 17-Jan-2018
DESCRIPTIONAgenda Review of the Year Membership Statistics Accounts Investments AVCs Looking to the Future Investments Cost Sharing Administration Scrutiny
<p>WELCOME TO: HERTFORDSHIRE LGPS EMPLOYERS MEETING Hertfordshire County Council OVERVIEW OF PENSION FUND ACTIVITY Chris Sweeney Director of Finance, Information & Commercial Services Hertfordshire County Council Agenda Review of the Year Membership Statistics Accounts Investments AVCs Looking to the Future Investments Cost Sharing Administration Scrutiny Review of the Year Membership Statistics Employees Active members28,042 Deferred Members22,096 Pensioners21,003 71,141 Review of the Year Membership Statistics Employers County / District Councils 11 Parish / Town Councils 37 Scheduled Bodies 9 Foundation Schools 40 Contractors 31 Other Bodies 66 Total194 Review of the Year Accounts 2007/082008/09 to 31/12/08 Contributions in138m103m Benefits Paid & Expenses103m80m Net Investment Income78m55m Value of the Fund2,066m1,728m Review of the Year Investments Allocation at 31 st December 2008 Review of the Year Economic Headlines Interest rates all time low Technical recession Unemployment 6.3% Taxpayers underwriting banks bad debts FTSE All share down 29.9% in 2008 Review of the Year Impact on Investments 2008: minus 23.9% Held: Lehman Brothers, AIG, RBS Avoided: Hedge Funds, Madoff Review of the Year Standard Life AVCs Reduction in value of Pension Sterling Fund Subsequent reversal of decision Clear information on investment decisions needed plus recommend financial advice Looking to the Future Investments - Long Term View Not the time to sell Fund Managers being cautious Restructured fund management in May 5 year average performance still positive: + 4.0% per annum Looking to the Future Investments Impact on Contributions Funding level: % now55% Next valuation 2010 Contributions fixed until 31 st March 2012 Looking to the Future Cost Sharing Set out in new 2008 scheme To be implemented 2010 valuation Aim is for employees and employers to share future cost increases Employee contribution or benefits Use national model fund Data Quality Letter Looking to the Future Administration HCC and Serco working together Scheme Booklets Newsletters / Bulletins Improvement Agenda Looking to the Future Scrutiny of Public Sector Schemes Loss of private sector final salary schemes Pressure from taxpayers Other public sector schemes unfunded Management Changes Director of Finance to be replaced by Director of Resources and Performance</p>
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Hertfordshire County Council www.hertsdirect.org/landscape The Hertfordshire Landscape Character Assessment Applications and implications.
Www.hertsdirect.org Hertfordshire Trading Standards Scams Susie Helliwell Trading Standards Officer.
Www.hertsdirect.org Tackling child poverty in Hertfordshire Caroline Swindells/Jenny Andrews Childhood Support Services Hertfordshire County Council.
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Hertfordshire County Council www.hertsdirect.org Document Management Resources Cabinet Panel September 2006.
Efficiency and IT Panel SHARP Project Update Sept 2005 Hertfordshire County Council www.hertsdirect.org.
Www.hertsdirect.org Responding to the Challenge in Hertfordshire John Harris Director of Children, Schools & Families – Hertfordshire County Council.
Hertfordshire County Council www.hertsdirect.org DEVELOPING THE WORKFORCE TO IMPROVE OUTCOMES FOR PEOPLE WITH DEMENTIA.
ALARM SE CONFERENCE 2 nd & 3 rd November 2005 Stress Management Workshop Hertfordshire County Council www.hertsdirect.org.
Www.hertsdirect.org THRIVING FAMILIES Improving outcomes for Hertfordshire families with multiple and complex needs Gareth Morgan. Thriving Families Programme.
Hertfordshire County Council www.hertsdirect.org Strategic Stakeholder Group Workshop Children and Young People with Learning Difficulties and Disabilities.
Hertfordshire County Council www.hertsdirect.org Education Panel - Outline Business Case presentation 11th June 2008.
Scrutiny of Hertfordshire County Council’s Cycling Strategy Cycling Infrastructure Design Hertfordshire Highways www.hertsdirect.org October 2009.
Hertfordshire County Council www.hertsdirect.org Environment HERMIS Update Efficiencies & IT Panel Terry Fox Head of Information Management.
Www.hertsdirect.org Sue Darker Assistant Director Adult Care Services Chair of Hertfordshire Safeguarding Adults Board.
Www.hertsdirect.org INTELLIGENT TRANSPORT SYSTEMS Presentation by Chris Gladwyn Traffic Control Systems Hertfordshire Highways.
Hertfordshire County Council www.hertsdirect.org Autism Scrutiny - Education Debbie Orton Head of Integrated Services for Learning Children’s Services.
Www.hertsdirect.org Hertfordshire Health & Wellbeing Conference: Starting Well Dr SJ Louise Smith Sue Beck Public Health, Hertfordshire County Council.