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Social Security (Reserve) Fund - investment strategy

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

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A decision made 16 December 2009 regarding: Social Security (Reserve) Fund - investment strategy.

Decision Reference:  MD-TR-2009-0194

Decision Summary Title:

Amended Investment Strategy for the  Social Security (Reserve) Fund

Date of Decision Summary:

9th December 2009

Decision Summary Author:

Strategic Investments Manager, Treasury

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

N/A

Person Giving

Oral Report:

N/A

Written Report

Title:

Amended Investment Strategy for the Social Security (Reserve) Fund

Date of Written Report:

9th December 2009

Written Report Author:

Strategic Investments Manager, Treasury

Written Report :

Public or Exempt?

Public

Subject: Social Security (Reserve) Fund – Investment Strategy

Decision(s):The Minister for Treasury and Resources decided to amend the Investment Strategy for the Social Security (Reserve) Fund (see Appendix A) and present this investment Strategy to the States for information.

Reason(s) for Decision:

The Social Security (Reserve) Fund was created under the Social Security (Jersey) Law 1974 (Article 31) with the purpose of being a buffer to deal with the longer term funding of the state pension for islanders. The Minister for Treasury and Resources is responsible for the development and maintenance of the investment strategy in consultation with the Social Security Minister. 

The Treasury and Resources Minister has consulted with the Minister for Social Security about amending the existing Investment Strategy for the Social Security (Reserve) Fund and it has been decided that the attached revised investment strategy should be adopted. (see Appendix A.)  

The decision has been made based upon the Treasury and Resources Minister taking appropriate investment advice from the States Investment Advisor.

Resource Implications:

None, other than those indicated in the attached report.

Action required:

Greffier of the States to be requested to present attached Investment Strategy (Appendix A) to the States at the earliest opportunity.

Signature: 
 

Position: Senator P F C Ozouf, Minister for Treasury and Resources

Date Signed:

Date of Decision:

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