Douglas Borough Council has appointed Mr Andrew Thomas to serve as independent member of the pensions committee.
The Council is charged with administering the Isle of Man Local Government Pension Scheme on behalf of all local authorities in the Island. Mr Thomas’s appointment complements that of Mr Derek Booth, recently appointed standards committee independent member, and comes after the Council adopted a Constitution in May 2012 that seeks to ensure good governance, transparency and accountability. The Articles of the Constitution require that two independent members be appointed, one to the standards committee, the other to the pensions committee.
Mr Thomas has worked in the Island’s finance sector since 1983. He is chief executive of Isle of Man Enterprises plc, the holding company for Shoprite, Shoprite Living, Iceland, Whitestone Garage and Winerite. He is also a Fellow of the Chartered Institute of Accountants, a trustee of the Diana Princess of Wales Care at Home Trust and vice-chairman of Castletown Commissioners. He said: ‘Having also served as a director of two life insurance and pensions companies I am delighted to have the opportunity to apply my experience to this position and to be contributing to the important work of the Council’s pensions committee.’
Pensions committee Chairman Councillor Colin Cain said: ‘Mr Thomas brings a breadth and depth of experience, analytical skills and impartiality to the crucial work of the pensions committee. Against a background of continuing global economic uncertainty and subdued growth forecasts it is vital we draw on a broad range of expertise to carry out the work of the committee which has been entrusted with this vital role of administering and protecting the fund.’