Issue - meetings
Pension Fund Procurement Plans and Update 2017/18
Meeting: 31/07/2017 - Pension Board (Item 12)
Pension Fund Procurement Plans and Update 2017/18
Minutes:
Ms Jones Senior officer, Supporting the Divisional Director, Finance presented the report informing the Board that recruitment of an investment consultant via an approved procurement framework had been completed and the firm Mercers appointed.
Mercers had been selected as it complied with quality and process. It was anticipated that a contract would be in place by December 2017.
Responding to questions from the Board Ms Jones advised that:
· of the six applicants only two had passed the first stage. Of the others, one was conflicted, another was the existing provider who did not wish to return and another did not accept the price guarantee.
· there had been quality bids for actuaries but not for investment
· Risk
The Board noted that investment advice was not habitually presented in written form and asked for this to be reviewed.
RESOLVED