Minutes of Proceedings

Extraordinary Meeting of the NIAMPS Trustee Board held via MS Teams on Friday 21 October 2022 at 11.45am

Present:

• Mr P Catney (Chair)
• Dr C Archibald MLA
• Mr S Dickson MLA

In attendance: Mrs P McClintock (NIA), Mr A Crowe (Scheme Secretary), Mr C Ward (GAD), and Mr N Burns (Deloitte)

1. TRUSTEE BOARD COMPOSITION

The Secretary reminded Trustees of the advice that had been provided by Eversheds for maintaining a quorate Trustee Board and the decision that had been taken at the Trustee Meeting on 22 September 2022 to appoint new trustees by exercise of statutory powers under the Trustees Act 1958.

Mrs McClintock advised that she had received the following nominations for new Trustees: Mr Mark H Durkan (SDLP); Dr Stephen Aiken OBE (UUP); and, Mr Keith Buchanan (DUP).

Agreed: that the nominated MLAs would be appointed to the Board.

Action: that Mrs McClintock would liaise with Eversheds to finalise the Deed of Trustee Appointment & Removal and to obtain the required signatures. The new Trustees would be deemed to take their place on the Trustee Board with effect from 5 November 2022.

2. ANNUAL REPORT & ACCOUNTS

Mrs McClintock provided an overview of the Annual Report and Accounts for the year ended 31 March 2022.

Agreed: that the Accounts could be submitted to the Northern Ireland Audit Office and following completion of the audit, the Accounts could be laid before the Assembly.

The Chair thanked Mrs McClintock for her hard work in preparing the Accounts.

3. INVESTMENT MANAGER TRANSITIONS

Mr Ward noted that all the paperwork had now been completed. However, he advised that the planned start of the investment trades which would effect the switch to Abrdn would be postponed due to current market uncertainty and the pending appointment of a new UK Prime Minister.

Agreed: that the Mrs McClintock would keep the signed paperwork safely locked away and that Mr Ward would provide further advice in a few weeks regarding the timeliness of beginning the series of investment trades.

4. ANY OTHER BUSINESS

The Chair advised that this would be his last Meeting as a Trustee and thanked fellow Trustees for their support and commitment and wished everyone well for the future. He informed Trustees that he would be happy to continue to attend one or two further meetings as an observer or advisor if that was felt to be helpful in supporting the new trustees.

5. DATE OF FUTURE MEETINGS

The next NIAMPS Trustee Meeting is scheduled for 15 December 2022 subject to availability of the Trustees and Assembly staff.