Pension Funds

Part of 3. Questions to the Assembly Commission – in the Senedd at 3:19 pm on 3 April 2019.

Alert me about debates like this

Photo of Elin Jones Elin Jones Plaid Cymru 3:19, 3 April 2019

(Translated)

The Commission has no means to influence the allocation of the Assembly Members' pension scheme’s assets. The power to invest the scheme’s assets sits entirely with the pension board, which is independent of the Commission. The pension board as a whole will decide where to invest those assets, based on advice received from the board’s investment advisers. 

For Commission staff, the civil service pension scheme is an unfunded scheme and therefore has no assets to invest. Benefits are paid from tax revenues rather than from assets set aside to pay them.