Archived decisions

HAMPSHIRE COUNTY COUNCIL

Report for Information

1) Purpose of Report:

1.1. This report summarises the attendance and the response from employers to the AGM.

2) Contextual Issues:

2.1. The Pension Fund's eleventh Annual General Meeting was held at Westley Court, Sparsholt College on Tuesday 23 September 2008.

3) Attendance:

3.1. In total, 43 representatives from 27 employers attended the 2008 AGM. Attendance was therefore lower when compared with 2007 when 62 people attended from 33 employers.

3.2. Most of the major employers were represented, including one of the two city councils, nine of the 11 district councils and the police and fire and rescue authorities. In addition, 14 colleges and admitted bodies were present. Efforts will continue to encourage employers to attend future AGMs.

3.3. The response from attendees was positive with many highlighting the presentation by Anne Richards of Aberdeen Asset Management. Employers were keen to know the prospects for employer contribution rates for 2011/12 onwards in view of the credit crisis. The County Treasurer undertook to keep employers informed about developments.

4) Market update:

4.1. By way of an update, on 11 November 2008 Anne provided the County Treasurer with the following market commentary:

"I said at the time that I thought we were more than half way through. I still believe this to be the case and there are some very early signs in credit markets that normality is slowly (very slowly) leaking back, but it is going to be a long haul. It is certainly going to be a bumpy ride with lots of ups and downs and there is still a possibility we retest the lows before we find a floor."

5) Conclusions:

5.1. The AGM continues to form an important part of the Pension Fund's Communication Strategy, alongside the Annual Report, the annual leaflet for pensioners and contributors and the pensioners' newsletter.

5.2. The AGM for 2009 will be held at Westley Court, Sparsholt on the morning of Wednesday, 30 September 2009.