1. Minutes of the 27 March meeting were accepted
2. Matters Arising
3. Appointment of a Pensions Consultant
4. Any Other Business
5. Date of Next Meeting

PRESENT:
Mr D Watson
Mr J Dallat
Mr M Carrick

IN THE CHAIR:
Mr D Watson

APOLOGIES:
Mr J Kelly
Mr D McClarty

IN ATTENDANCE:
Mr T Evans, Mr E Hobson.

1. Minutes of the 27 March meeting were accepted.

2. MATTERS ARISING

2.1 Pension Scheme Booklet

Mr Hobson reported that he was awaiting a first draft from TSO.

2.2 Pension Scheme Insurance

Trustees considered a range of options and agreed that Mr Hobson should seek clarification from Swiss Life on their quotation to cover all Members up to the age of 70.

2.3 Investment Managers

Trustees agreed that the Investment Manager should be invited to an early meeting after the Summer Recess.

2.4 Appointment of an AVC Provider

Mr Hobson reported that GPA had approached 15 companies with a view to supplementing the one bid received in response to the initial tender invitation and that the closing date for receipt of bids is Friday 22 June.

2.5 Old Assembly Pension Fund

Mr Evans reported that it would require legislation to bring the Old Assembly Pension Fund under the control of the Pension Trustees. It was agreed that the Trustees should concentrate on the more immediate priorities at this stage and revisit the matter at a later date.

2.6 Administration of Pension Scheme

Mr Hobson agreed to consult with the Trustees' Pension Consultant on Capita's proposal to administer the Pension Payroll Service.

3. APPOINTMENT OF A PENSION CONSULTANT

The Trustees received a presentation from the 3 companies which had bid to provide a consultancy service in respect of the Assembly Members' Pension Scheme. After a question and answer session with each of the companies and careful consideration of each proposal against the agreed evaluation criteria the Trustees unanimously agreed to offer the contract to PricewaterhouseCoopers.

4. ANY OTHER BUSINESS

No business was discussed.

5. DATE OF NEXT MEETING

At the call of the Chair.