VERBAL UPDATE ON THE VALUATION AND DATA TRANSFER
Verbal
update from the Head of Finance
Minutes:
The valuation timetable was circulated. It was noted
that the appropriate information needed to be submitted to the actuary by 17
July 2016. It was noted that work was currently underway to ensure that the
information was accurate and clean. The final meeting with the employers would
be at 10:00am, 10 November 2016 (with an invitation for Pensions Committee and
Board members).
In response to a question regarding maximising the use
of the i-Connect system, it was suggested that discussions between the Pensions
Unit and Huw Trainor needed to continue in order to consider the possibilities
shortly after the busy period of the valuation. The advantages of using the
system included imposing adaptations / corrections to data on a monthly basis
rather than annually, which would reduce the pressure during the period of
transferring the data to the actuary.
The information was noted