1. Minutes of the third meeting
2. Matters Arising
3. Appointment of Investment Manager
4. Administration Issues
5. Appointment of a Consultant
6. Any Other Business
7. Date of Next Meeting

Present:Mr D Watson
Mr J Kelly
Mr M Carrick
Mr J Dallat
Mr D McClarty

In the Chair:Mr D Watson

In Attendance:Mr T Evans, Mr E Hobson, Mrs C McGowan

1. Minutes of the third meeting were accepted.

2.1 Approval of Transfer of Pensions

The Trustees considered and approved a request from one Member to transfer previous pension contributions into the Members pension scheme.

2.2 Visit to Westminster

Mr Evans confirmed that he had held discussions with Mike Fletcher, Clerk of the Westminster Trustees, and is in the process of organising a suitable date for Trustees to visit.

2.3 Pension Scheme Booklet

Mr Hobson circulated a draft explanatory booklet on the Members pension scheme for Trustees consideration. Trustees agreed to review the content of the booklet for discussion at the next meeting.

2.4 Pension Scheme Insurance

The Trustees considered the documentation, prepared by Mr Ballantine, on the list of companies willing to provide insurance cover for the scheme. Mr Hobson to explore the possibility of more competitive rates, in line with the premium paid by the Scottish Parliament. It was agreed that the Trustees need to have the fullest information before making a final decision on the need for early years insurance cover.

3.1Trustees reviewed and approved the paper on the selection process for the Investment Manager. Trustees agreed that the successful company should be invited to the next meeting to discuss their approach and clarify contractual issues identified by the Government Purchasing Agency.

3.2 Mr Hobson agreed to ask Mr Ballantine to develop a list of questions for discussion with the company. Mr Hobson to inform Government Purchasing Agency of the date and time for next meeting.

4.1 Mr Hobson updated Trustees on the status of the Pension Fund chequebook account and that he had asked Mr Ballantine and GPA for a breakdown of costs in relation to the most recent invoices.

4.2 The Trustees approved for payment the latest invoice from Government Actuaries Department on fees for services covering the period ending 29 October 2000.

4.3 The Trustees asked that the minutes should record their sympathy with Mr Tom Benson's family and the Ulster Unionist Party on the loss of a colleague. Trustees reviewed and approved the letter to be sent to Mrs Benson detailing the death gratuity and information on the widow's pension.

5.1 Mr Evans and Mr Hobson reported on their meeting with Donna Kavanagh from the Government Purchasing Agency to discuss the processes for appointing an independent pension consultant and agreed to prepare the tender documentation for consideration by the Trustees at the next meeting.

5.2 The Chairman proposed that documentation should contain a critical path to ensure that the appointment is made as soon as possible.

6.1 The Trustees gave approval for Mr Hobson to provide the Professional Pensions Magazine with details regarding the Members Pension Scheme.

6.2 The Trustees considered and approved the application from two Members to opt back into the Pension Scheme.

6.3 The Trustees agreed that the Government Purchasing Agency should be approached with a view to handling the procurement process for an Additional Voluntary Contribution company.

Monday 5 February at 1pm in room 106.

Tom Evans
Room: 103