Issue - meetings
Funding, Flight-Path and Risk Management Framework
Meeting: 15/02/2023 - Clwyd Pension Fund Committee (Item 43)
43 Funding, Flight-Path and Risk Management Framework 
PDF 107 KB
To update Committee Members on the funding
position, and the implementation of the Flight path and risk
management framework including recommending updates to the Scheme
of Delegation relating to the Fund’s Risk Management
Framework for approval.
Additional documents:
- Enc. 1 for Funding, Flight-Path and Risk Management Framework, item 43
PDF 475 KB
- Enc. 2 for Funding, Flight-Path and Risk Management Framework, item 43
PDF 173 KB
- Webcast for Funding, Flight-Path and Risk Management Framework
Decision:
(a) The Committee noted and considered the contents of the report.
(b) The Committee approved the proposed updates to the Fund’s Scheme of Delegation.
Minutes:
Mr Middleman took the Committee through this report, making the following key points:
- The overall flightpath and framework were working as expected following the volatile period.
- A number of changes had been made to maintain sufficient liquidity for the framework to work as expected.
- The funding level at the valuation date 31 March 2022 was 105%, with small dips over the year but by the end of December this returned to 105% and had remained around this mark.
Mr Middleman highlighted that in times of volatility, any changes needed to react to market changes need to be made quickly. This resulted in the suggested changes to clarify delegations to the Head of Fund in the appendix to the report.
RESOLVED:
(a) The Committee noted and considered the contents of the report.
(b) The Committee approved the proposed updates to the Fund’s Scheme of Delegation.