Wednesday, July 25, 2007

More pension news - pension fund adviser wanted. Pay up to £144,371

We reported earlier about the proposal from GDfB create a new £500/hour job for a lucky Councillor to Chair the Pension Committee.

One of the readers of that posting pointed us to a DPR that states:
8.3) .... Consultation with other local authorities has established that the market fees for this type of advice are estimated to be at a level that does not require an EU tender process. Please note that the current threshold for services is £144, 371.
Maybe the Chief Executive will apply....

1 comment:

  1. An independent pension fund adviser is essential given the damage caused by Gordon’s smash and grab raid on the pensions industry but there are a number of concerns with the DPR.

    Why is this matter being left to an officer to deal with – and Mr Medlam in particular given that he is still under investigation by PwC and Grant Thornton regarding serious allegations? This appointment is something which should be dealt with in public session by the full council so that the taxpayer and council employees can see what is going on.

    It seems that the Council is trying to appoint someone without the need for a formal tender process, yet the pension fund amounts to £500m and that is simply too large a sum for the appointment to be dealt with in such a casual manner.

    Of lesser importance is that the DPR appears to have been typed by someone who has never operated a computer before. Doesn’t anyone in the council take pride in their work?