1. Minutes of Second Meeting
2. Matters Arising
3. Review of Training Day
4. Appointment of Fund Manager
5. Any Other Business
6. Date of the Next Meeting

Present:Mr D Watson
Mr J Kelly
Mr M Carrick

In the Chair:Mr D Watson

Apologies:Mr D McClarty & Mr J Dallat

In Attendance:Mr T Evans, Miss C Nolan, Mr E Hobson, Mr G Ballantine

2.1Inland Revenue Limits

Mr Evans reported that it was unlikely that the Inland Revenue would agree to waive the 15% limit. It was agreed that no further action should be taken given that the arrears will be paid out by April 2001.

2.2Bank Account

Mr Hobson informed Members that there have been no further payments out of the account since the last meeting.

Mr Hobson informed Members that no additional Members had requested to transfer into the scheme. Mr Ballantine advised that decisions on requests to transfer into the scheme are normally delegated to the scheme administrators.

Mr Hobson has written to Whips on this matter and a reminder will go out in the next APN.

Mr Evans confirmed that he was in the process of organising a visit to Westminster and would report back, at the earliest opportunity, on possible dates.

3.1 The Chairman commended the training day which highlighted for Trustees the importance of their role and the need to ensure that all decisions are supported by advice from a relevant expert. Other learning points included:

.trustees duty to take advice;

.the need for independence between Trustees and the employer (Assembly Commission); and

.the potential need for an independent consultant.

The Chairman also raised the issue of the need for insurance cover in the early years of the scheme. Mr Evans and Mr Hobson are to meet to explore options with Mr Ballantine and will bring a set of proposals to an early meeting.

4.1Mr Ballantine outlined the rationale behind the proposed weightings and scoring framework for the assessment criteria for the appointment of the fund manager. Mr Ballantine agreed to provide written assessment on each of the proposals which Mr Evans will circulate to Members in advance of the next meeting.

5.1 Mr Evans and Mr Hobson to explore with GPA the most appropriate method for securing the services of an independent pension consultant.

5.2 It was agreed to monitor developments at Westminster and the other devolved institutions with regard to pensions for partners.

5.3 Mr Carrick proposed that an explanatory booklet should be produced for Members based on the original advice issued at the time the scheme was first introduced.

Tuesday 14 November at 10.00 am in room 106.

TOM EVANS
Room 103