Annual Report 2017/18
The annual report and accounts for the year ending 31 March 2018 are now available to read in full here.
In the foreword, David Kidd, Chairman, summed up the year, as follows: ‘The Trustee Board held four meetings during the year ending 31 March 2018 as well as several conference calls and investment selection panels.
‘The major concern during the year has been the ongoing 2015 Triennial Valuation which we had hoped to settle in the autumn of 2017 but which is still not resolved. The Pensions Regulator has been kept informed and updated during the extended process to resolve the issue of the covenant. The employers, British Tourist Authority and VisitScotland, are trying to secure guarantees from their respective governments. At the conclusion of the financial year this matter had still not been resolved. Another Triennial Valuation is due in March 2018.’