An appeal has gone out for a new member to join the Douglas Borough Council committee charged with administering the Isle of Man local government pension scheme on behalf of all local authorities in the Island.
The new recruit, who must be independent of the Council, will fill a vacancy on the pensions committee, the body which deals with investments from the pensions fund and administration matters, including reviews of pension regulations.
Council leader David Christian said: ‘In these uncertain economic times and given the volatility of financial markets the world over it is essential we have a well-informed body of individuals drawn from the Council and the wider community to administer the pensions scheme and help protect the fund.’
Chairman of the pensions committee Colin Cain said: ‘The Council has been entrusted with this vital role in which the pensions committee plays a central part. Applicants must be prepared to challenge, seek clarification and offer informed viewpoints and, to this end, training sessions will be arranged help develop their analytical, consultative and financial oversight skills.’
The pensions committee consists of one member independent of the Council and five serving councillors. It will meet formally at least six times a year: approximately two hours for administration meetings and five hours every three months for investment meetings.
Members will be entitled to a modest allowance.
Independent members will be expected to be proactive and participate fully in the meetings and training sessions.
Experience of dealing with pensions and financial issues, serving on a committee, board or similar, and knowledge of local government would all be useful background, although not essential.
For an information pack, please write to the borough treasurer Geoff Bolt, Douglas Borough Council, Town Hall, Ridgeway Street, Douglas, Isle of Man, IM99 1AD, or email hr@douglas.gov.im.
The deadline for receipt of applications is Friday 20th July 2012 at 5.00pm.
