PRESENT:
Mr D Watson
Mr J Dallat
Mr M Carrick
Mr D McClarty

IN THE CHAIR:
Mr D Watson

APOLOGIES:
Mr J Kelly

IN ATTENDANCE:Mr T Evans, Mr E Hobson, Mr M McClintock.

1. Minutes of the 8 October meeting were accepted.

2. MATTERS ARISING

2.1 Pension Fund Insurance

Mr Hobson reported that only 39 members were currently covered by the policy even though the fund is paying for 92 members. It was agreed that a letter should issue reminding Members of the need to complete the medical declaration form.

2.2 Old Assembly Pension Fund

It was agreed that Mr Evans should open up discussions with DFP officials to explore the possibility of the Trustees taking over responsibility for the old Assembly Pension Fund.

2.3 Annual Accounts

Mr Hobson confirmed that the Annual Accounts had still to be cleared by the Northern Ireland Audit Office.

2.4 Transfer of Benefits

Mr Hobson confirmed that six more Members would be transferring benefits into the scheme. It was agreed that Mr Hobson should write to the twelve Members who have not transferred benefits into the scheme, offering one final chance to do so.

3. APPOINTMENT OF AN AVC PROVIDER

3.1 Mr McClintock, the Trustees' Pension Consultant, presented his assessment of the tenders for the AVC contract. He explained that his assessment was based on the Trustees' requirements and the analysis of the Members' responses to the questionnaire. The Trustees endorsed Mr McClintock's recommendation that Clerical Medical should be offered the contract.

3.2 Trustees agreed that the AVC portfolio should be on the basis of Clerical Medical 10 funds with the possibility of availing of the default option. Trustees also agreed that PricewaterhouseCoopers should hold a one day clinic for Members of the Pension Scheme.

4. ANY OTHER BUSINESS

No items were raised.

5. DATE OF NEXT MEETING

At the call of the Chairman.