Mr D Watson
Mr M Carrick
Mr D McClarty
IN THE CHAIR:
Mr D Watson
Mr J Dallat
Mr J Kelly
Mr T Evans, Mr E Hobson, Mr G Ballantine (GAD), Mrs K McCartney, Mr
1. Minutes of 27th January meeting were accepted
2. Mr Evans confirmed that Mr Kelly had accepted
the Secretary of State's invitation to remain a Trustee of the Assembly Members
Pension Scheme during suspension and that he hopes to attend the next meeting.
3. The Trustees asked that the minutes should
record their sympathy with Mr Arthur Doherty's family on their recent loss.
The Chairman asked Mr Hobson to write to Mrs Doherty on behalf of the Trustees
to convey their sincere condolences at this time.
4. MATTERS ARISING
- Election Plan 2003
Mr Evans informed the Trustees that draft election guidance for Members
had been prepared and would be issued to Members via Party Whips in
the near future. This will include advice to Members on Pension issues
as well as contact details of Personnel staff who would be available
to help with pension queries.
Mr Carrick inquired if there was flexibility to draw AVC benefits
earlier than the AMPs pension benefits. Mr Ballantine agreed to examine
the rules and provide the Personnel Office with a draft note to be
issued to AVC contributors as soon as possible.
- Visit to Westminster
Mr Evans confirmed that he would make arrangements for the Trustees to visit
Westminster in the near future and, if possible, meet with Trustees of the
Westminster Pension Scheme.
5. INCREASE IN PENSION CONTRIBUTION
Mr Ballantine covered the main points, in the draft GAD valuation report,
supporting the recommendation to increase Exchequer contributions from
18% to 21.3%. The Trustees agreed that in the absence of an Assembly
Commission a submission recommending the estimated increase in contributions
should be forwarded, from the Chairman, to the Secretary of State for
Mr Ballantine confirmed that he would take on board the suggested amendments
to his draft report and issue the final copy for approval in the near
6. ANY OTHER BUSINESS
- RLAM Contract Extension
Mr Ballantine recommended that no change in Investment Manager be
made, but that the current contract be extended for a further year
before a full tender exercise is undertaken. The Trustees agreed with
this and Mr Evans undertook to follow the matter through with John
Gibson (Head of Assembly Procurement)
- Impact of Reduced Salaries on Members’ Pensions
The Trustees agreed that a note, from the Chairman, along with an
extract from the AMPS be issued to Party Whips to inform those Members
who are not standing for re-election the implications suspension will
make to their pension benefits.
7. DATE OF NEXT MEETING
It was agreed that Mr McClintock, the scheme’s Pension Advisor,
should be invited to attend the meeting arranged with RLAM on 24 February
2003 to discuss the performance of the pension fund.
27 January 2003 / Menu
/ 19 March 2003