Decision ID: 003625

In October the 1992 Fund Administrative Council decided to set the level of annual honoraria/fees for the members of the Audit Body and of the Investment Advisory Body as follows:

Audit Body:
Members £4 000
Chairman £6 000
External expert £30 000

Investment Advisory Body:
Members £20 000

It was decided that all honoraria/fees should be indexed annually, using United Kingdom Retail Price Index at the time of the preparation of the relevant budget. The Administrative Council also decided that the respective tasks and responsibilities of the various roles should be reviewed every five years or when appropriate, to make sure that the rationale for setting the honoraria/fees still applied.

Date: 30.09.2009
Categories: Administrative matters, Financial matters
Subjects: Audit Body, establishment, election and activities, Budgets, Investment Advisory Bodies, establishment and appointment of members, Budgets, Establishment and appointment of Members of Investment Advisory Bodies, Establishment, election and activities of the Audit Body