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MINUTES OF THE EIGHTH MEETING OF THE PENSION TRUSTEES HELD ON MONDAY 8 OCTOBER 2001 AT 10.00 AM IN ROOM 1521.
1. Minutes of the 18 June Meeting
IN THE CHAIR:
1. Minutes of the 18 June meeting were accepted.
2.1 Pension Scheme Booklet
Members reported that there had been a positive response to the booklet.
2.2 Pension Scheme Insurance
Mr Hobson reported that insurance cover would continue during a period of suspension as long as contributions continued to be paid and that the insurance cover automatically defaults on a Member's seventieth birthday. It was agreed that Mr Hobson should issue the medical declaration form to all members of the Assembly Pension Scheme.
2.3 Investment Managers
It was agreed to delay the Investment Manager's attendance until an AVC provider has been appointed.
2.4 Old Assembly Pension Fund
It was agreed to revisit this issue at a future meeting.
2.5 Administration of Pension Scheme
It was agreed that the Assembly Secretariat should continue to administer all aspects of the Assembly Members' Pension Scheme.
3. APPOINTMENT OF AN AVC PROVIDER
It was agreed that the Trustees' Pension Consultant should be asked to assess the tenders for the AVC contract and to provide a brief for consideration at the next meeting. Trustees agreed that it would also be useful to provide Members with an information brief on AVCs.
4. ANNUAL REPORT AND ANNUAL ACCOUNTS
Mr Hobson tabled a draft Annual Report and draft Annual Accounts and confirmed that a copy of the draft accounts had been forwarded to the Northern Ireland Audit Office. The Trustees approved the accounts and agreed to give further consideration to the draft report.
Transfer of Benefits
Mr Hobson reminded Trustees that the cut off date for the transfer of benefits has now passed, and that twelve MLAs have not transferred in to the Assembly Members' Pension Scheme. It was agreed that Mr Hobson should take advice on the appropriateness of extending the deadline to allow members a further opportunity to transfer benefits into the scheme.
The date of the next meeting will be at the call of the Chair.
TOM EVANS18 June 2001 / Menu / 12 December 2001
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