Minutes of Proceedings
Date: 06 July 2017
Mr D McClarty
Mr T Lunn
Mr J Dallat
Mrs M O’Neill
Mr J Wells
In the Chair:
Mr D McClarty
Ms Sinead Lappin, Mr W Long, Mr A Kennedy
1. MINUTES OF PREVIOUS TRUSTEES MEETING
The minutes of the Trustee meeting held on 18 May 2010 were agreed.
- Pensions Team to arrange for upload of minutes of 18 May 2010 to the Assembly website.
2. STANDING ITEMS
The Trustees agreed that there were no further areas of immediate concern other than the issue of Trustee training.
- Pensions Team to contact Trustees to arrange training during summer recess.
3. MATTERS ARISING
Scheme Rule Changes
The Trustees were advised that the Pensions Team will continue to investigate options for the provision of specialist advice as to how this could be done and that there would be a further progress report at the September Trustee meeting.
- Pensions Team to further investigate options for the provision of specialist advice in relation to the Scheme Rules amendments and report back at next meeting.
Extension of Investment Manager Contract
The Trustees noted that the Procurement Office will arrange for the contract with M&G for Investment Management services to be extended until November 2012, under the existing terms.
Pensions for Children
The Trustees were advised that an application has been received and is being processed.
Attorney General for Northern Ireland – pension arrangements
The Trustees noted that the Assembly Commission has agreed that the Scheme Rules will be amended to admit the Attorney General to the AMPS.
4. ANNUAL REPORT AND ACCOUNTS 2009 - 10
The Trustees considered and approved the draft annual report and accounts for the period 1 April 2009 – 31 March 2010.
- The Pension team to forward report to the Northern Ireland Audit Office.
5. M & G QUARTERLY REPORT
The Trustees were provided with a copy of the M & G Quarterly Report for information. A copy of an e-mail from Alex Spooner, M & G Investments, explaining the impact of holding BP stock following the recent BP Oil disaster was also provided for Trustees information.
The Trustees were advised that Mr Spooner will be invited to the next meeting to provide an investment update.
- The Pensions team to arrange for Alex Spooner, M & G Investments to attend next meeting to brief Trustees.
6. ANY OTHER BUSINESS
Northern Ireland Assembly Members Act 2010 – impact on pensions
The Trustees were briefed on the potential impacts of the recently enacted Northern Ireland Assembly Members Act 2010 on Members’ pensions.
- The Pension team to provide clarification regarding the transfer of benefits from the AMPS to the Westminster scheme by newly elected MPs.
Application for ill-health retirement
The Trustees were advised that a request for ill-health retirement has been received from a former Member and medical advice is being sought for consideration of the ill-health application at a future meeting.
7. DATE OF NEXT MEETING
The Trustees agreed to meet on 21 September 2010 (at 10.00am).
- Pensions Team to confirm date and issue meeting invites.