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RESOLVED to:
 
1. 
Note this report and the presentation from the Fund
Actuary
2. 
Agree the valuation assumptions as follows:
· 
Agree the proposed 80% level of prudence when
determining the valuation discount rate;
· 
Agree that the benefit revaluation and pension increase
assumption continues to be set in line with the CPI projections
made by the Fund Actuary (no change);
· 
Agree an inflationary salary increase assumption of
0.5% above inflation (no change);
· 
Agree that the Fund continues to use the life
expectancy assumptions recommended by Club Vita (no change) and for
the default life expectancy improvements assumptions to
apply;
· 
Agree the use of the “demographic
assumptions” proposed by the Fund Actuary.
 
3. 
Note the contribution rate for Hackney Council for each
of the 3 years covered by the 2025 valuation cycle pending
finalisation of the valuation process.