Investments handled well, PAC decides

INVESTMENTS of more than £2bn managed by two States department on behalf of taxpayers are secure and safe, a Public Accounts Committee report had concluded.

In this month's Billet d'Etat, PAC published its report on the investment funds under the stewardship of Treasury and Resources and Social Security.

Treasury looks after the Superannuation Fund, which funds the public sector pension scheme, and Social Security manages the Common Investment Fund, which helps fund benefits and the old-age pension.

PAC chairman Leon Gallienne (pictured) said his committee entered into the review to find out if the funds held by the States were secure and safe, while maximising returns for appropriate levels of risk.

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