Issue - meetings
Additional Voluntary Contributions (AVC) Annual Update
Meeting: 28/11/2019 - Clwyd Pension Fund Committee (Item 91)
91 2019 Additional Voluntary Contributions (AVC) Review Update 
PDF 117 KB
To update Committee Members with the results
of the recent AVC Review.
Additional documents:
Decision:
RESOLVED:
(a) The Committee noted the contents of this report and the accompanying appendix.
Minutes:
Mr Buckland gave a brief summary of events regarding the 2019 AVC Review. Currently there are 600 Fund members who have AVC’s with Prudential and 6 Fund members with AVC’s with Equitable Life. As reported at the last meeting the Equitable Life funds will be transferred to Utmost life. The next step for the Equitable Life investments is the court hearing which started last week, where formal approval will be sought to implement the changes. Assuming approval is received, this will be effective from 1 January 2020. There is a series of communications that will be sent to members informing them of the changes.
RESOLVED:
(a) The Committee noted the contents of this report and the accompanying appendix.