Meeting documents

Pension Fund Committee
Friday, 21 November 2003

CIPFA Local Authority Pension Fund Statistics

Table 1

FUND ASSET PENSION DISTRIBUTION AT 31 MARCH 2003

	UK Equities %	Overseas Equities %	UK Bonds %	Overseas Bonds %	Index Linked %	Cash/ Other %	Property %
Oxfordshire C.C.	40	25	10	1	9	9	6
WM Local Authority Average	41	25	7	4	8	6	7
Oxfordshire C.C. Customised Benchmark	40	27	12	0	10	6	5

Table 2

LOCAL AUTHORITY PENSION FUND PERFORMANCE

PERIODS ENDED 31 MARCH 2003

	3 Years (Return p.a.)	5 Years (Return p.a.)	10 Years (Return p.a.)
Local Authority average	-9.1	-1.6	6.2
English County Council average	-9.2	-1.9	6.0
Oxfordshire County Council	-11.2	-3.1	5.7
Retail Price Index	2.2	2.3	2.6
Average Earnings	3.7	4.3	4.2

Table 3

ACTUAL ECONOMIC ASSUMPTIONS MADE AT 31 MARCH 2001 VALUATION

Rate of general pay increases	4.3% p.a.
Rate of increase to pensions in payment (Determined by RPI)	2.5% p.a.
Rate of return on investments - Equities	7.25% p.a.
Rate of return on investments – Fixed & Index-linked gilts	4.9% p.a.