Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: June 11, 2025

Purpose:

Content: 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.