View of the AMNT & Bobby Riddaway
You are cordially invited to attend our next event. It’s on Tuesday (28th July)
You can join Maggie and Bobby to hear the view of the AMNT on this link.
Small scheme governance. They need help! What sort of help do they really need? Are Co-Trustees a good alternative to Corporate Sole Trustees?
This session will explore why boards of small and medium sized pension schemes can cope with increased governance and complexity by appointing a Co-Trustee pensions expert. As the Corporate Sole Trustee model continues to grab the headlines the loss of Scheme knowledge, experience and potential change in Trustee/ Employer relationship that it entails is not the only option for smaller schemes. Even in the scenario of winding-up a scheme, member views can be valuable as the scheme moves from Employer related to insurer related.
Maggie Rodger : After a career in Charity Finance, Maggie became a Member Nominated Pensions Trustee 14 years ago and Co Chair of AMNT 5 years ago. She has just completed her 10 year term as a trustee for the Church of England Scheme.
Bobby Riddaway : Bobby is an Independent Professional Trustee and MD of HS Trustees. He is also a recent addition to the council of the IFoA and founded and chairs the Trustee Sustainability Working Group. Bobby has spent most of his career working on Schemes under £500m and knows how they tick.
About AMNT
The Association of Member Nominated Trustees is an organisation established in September 2010 composed of pension trustees selected by employees or members of private and public sector pension funds in the United Kingdom. It is a non-profit group which seeks to organise employee representatives through sharing information, expertise and coordinating policies for pensions and corporations in which money is invested.
Background
A member nominated trustee, in UK law, is a person appointed by employees, or members of an occupational pension plan, in accordance with the Pensions Act 2004 sections 241–242.
Member nominated trustees of pension plans have been a part of UK pensions since the emergence of occupational pension plans in the middle of the twentieth century. During the 1970s Labour government, a white paper was proposed that half the trustees should be nominated by the workforce, however this was not implemented.[1] Instead, under the Pensions Act 1995, following the Goode Report, a rule was introduced, that companies could opt out of, that a third of trustees had to be nominated. In the Pensions Act 2004, this requirement was made compulsory, and the Secretary of State has the power to raise the threshold to one half. Many pension funds already have one half of trustees nominated even though the law requires less. Given the steady growth in numbers and the formalisation and establishment of member trustees in the economy, in September 2010, the AMNT emerged to organise member trustees. Its first official meeting took place on 31 March 2011, and it set a date in July to agree on policies and a constitution.
You can join the Maggie, Bobby and hear the view of the AMNT on this link.
Or you can cut and paste this link into your diary for 10.30 am Tuesday 28th July. (1hr)
