Issue - meetings
Aon Hewitt report on the outcome of the transfer process from active to passive fund management
Meeting: 28/06/2012 - Corporate Committee (Item 139)
139 Pension Fund:Transition Cost Summary 
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The committee will consider information about the costs of the transition to the new fund arrangements.
Minutes:
The committee received a further update on the costs of moving from active to passive Pension Fund management. It was noted that the expected cost of the transition had risen from £700k (the sum reported at the meeting in May) to £842k as the value of the holdings had increased during this period. Members were asked to keep in mind the overall savings the Pension Fund would make from this change in pension fund management which was £1m each year.
The Pensions Working Group had met prior to the meeting and had considered this cost. They recommended that the report be accepted.
RESOLVED
That the report be noted.