Recently elected Member Nominated Trustee Amy Hunt, the NEU’s National Campaigns manager attended her first meeting as fellow Trustee Andrew Morris was appointed as Vice Chair, to fulfil any duties that would typically fall to chair Heather McKenzie in circumstances where she may be absent. The Scheme’s recent investment performance was discussed and despite current economic problems the vast majority of the funds in which the scheme is invested performed satisfactorily. Trustees have begun a routine review of the current investment strategy which will be considered further in future meetings.

 

Also on the agenda was the transition to the Scheme’s new administrators, First Actuarial, who took over from Mercer earlier in the year. First Actuarial are continuing to rectify errors detected during the handover period and the Trustees encourage members with any queries to get in touch with them. Pensioners should have also now received letters regarding their most recent pension increases, the Trustees are working with First Actuarial to develop the content of these letters to potentially contain more bespoke content in future regarding Scheme increases.