What was the advice that councillors in charge of governance of the Merseyside Pension Fund were given about a Democratic majority in United States Congress and its impact on North American investments?

What was the advice that councillors in charge of governance of the Merseyside Pension Fund were given about a Democratic majority in United States Congress and its impact on North American investments?

Peter Wallach (Director of Merseyside Pension Fund) 21st January 2019

What was the advice that councillors in charge of governance of the Merseyside Pension Fund were given about a Democratic majority in United States Congress and its impact on North American investments?

                                      

Peter Wallach (Director of Merseyside Pension Fund) 21st January 2019
Peter Wallach (Director of Merseyside Pension Fund) 21st January 2019

The author of this piece has a close relative paid a pension by the Merseyside Pension Fund. The Merseyside Pension Fund (administered by Wirral Council) is a £8.9 billion pension fund that has global investments.

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Pensions Committee (Wirral Council) (Merseyside Pension Fund) 21st January 2019 Part 1 of 2

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Pensions Committee (Wirral Council) (Merseyside Pension Fund) 21st January 2019 Part 2 of 2

In a behind closed doors meeting of the Pensions Committee’s Investment Monitoring Working Party held on the 15th November 2018 five councillors, plus others present discussed the then recent election of a Democratic majority in the United States Congress in the context of the Merseyside Pension Fund’s investments in North America.

Their adviser advised that the democratically elected United States Congress would continue to be bypassed, but that tax cuts to stimulate the United States economy were a one off measure and there was a risk of growth being impacted by the trade war between the United States and China if agreement was not reached between China and the United States of America.

Since the meeting referred to above in November, the partial US government shutdown that started just before Christmas has now reached the one month mark and around 800,000 United States federal employees have now missed their first pay cheque with the political impasse showing no signs of reaching a conclusion.

Clearly there will be economic impacts on the United States economy of around 800,000 people going without pay.

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Author: John Brace

New media journalist from Birkenhead, England who writes about Wirral Council. Published and promoted by John Brace, 134 Boundary Road, Bidston, CH43 7PH. Printed by UK Webhosting Ltd t/a Tsohost, 113-114 Buckingham Avenue, Slough, Berkshire, England, SL1 4PF.

2 thoughts on “What was the advice that councillors in charge of governance of the Merseyside Pension Fund were given about a Democratic majority in United States Congress and its impact on North American investments?”

    1. However the investments of the Merseyside Pension Fund tend to for the long-term and also to provide an income that can be used towards paying out pensions (especially as at the moment the payments going out to pensioners are greater than the payments from employees and employers coming in).

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