Minutes of Proceedings

Meeting of the NIAMPS Trustee Board held in Room 106 on Wednesday 1 May 2024 at 2:00pm

Present:

• Dr S Aiken OBE (Chair)
• Mr T Clarke
• Mr S Dickson
• Mr M Durkan
• Ms C Ferguson

In attendance:

Mrs P McClintock (NIA), Mr G Browne (NIA), Mr N Burns (Scheme Secretary), Mr M Pekacar

Mr Burns & Mr Pekacar were not in attendance for item 3.4

1. STANDARD BUSINESS

1.1 Appointment of a Chairperson

It was noted that Mr Clarke & Ms Ferguson were appointed as Trustees of the Scheme by exercise of their statutory powers under the Trustees Act 1958.

Following Dr Archibald’s resignation, the Trustees acknowledged the need to appoint a new Chairperson. Dr Aiken was nominated as Chairperson and Mr Dickson was nominated as Deputy Chairperson of the Board of Pension Trustees. The Trustees unanimously supported both appointments and Dr Aiken and Mr Dickson were appointed with immediate effect.

1.2 Apologies

There were no apologies.

1.3 Conflicts of Interest

There were no conflicts of interest.

1.4 Minutes of the Meetings on 3 October 2023 and 11 October 2023

Approved.

1.5 Matters Arising

None

2. CONSENT ITEMS

2.1 None.

3. KEY REPORTS FOR DISCUSSION

3.1 Actuarial – Update on valuation data and discussion on funding update

Mr Pekacar explained that the Rules of the Scheme require the Scheme Actuary to make a report on the general financial position of the Scheme at least every three years. Mr Pekacar confirmed that he is due to receive the data for the Actuarial Valuation as at 31 March 2023 imminently.

Mr Pekacar confirmed that, based on a combination of a favourable return on assets, and the high level of inflation for a period, he would expect that the funding position will have improved since the last valuation.

Mr Pekacar will provide an update on the results of the financial position of the scheme at the next meeting.

Action: the Secretariate team to provide membership data for the valuation to GAD.

3.2 Scheme Accounts – Update on accounts preparation

Mrs McClintock advised that the Report and Financial Statements (the ‘Accounts’) had been audited by the Northern Ireland Audit Office (NIAO) and had been provided to the Comptroller and Auditor General (C&AG) for Certification.

Mrs McClintock confirmed that the NIAO had provided an unqualified audit report and that the C&AG had certified the Accounts.

Action: the Secretariate team to submit the Accounts to the Assembly Commission.

3.3 Administration – Update on annual pensioner declaration

Mr Burns advised that this was an annual exercise to verify the details of Scheme pensioners. The exercise was used for the Trustees to protect the fund against the overpayment of benefits or fraud.

Mr Burns noted that there were 14 individuals who had not yet responded to requests for confirmation of details, and in such a circumstance it would be normal to suspend pension payments to these members. This would be on a temporary basis subject to the individual making contact and providing the required details.

Action: Mr Burns to share a list of the 14 members with the Secretariate team to check their current addresses, before sending one further letter to the 14 individuals.

3.4 Administration – Update on resourcing

Closed session

4. DATE OF FUTURE MEETINGS

The Trustees agreed to liaise with Mr Burns to agree a suitable date for the next meeting.