What’s involved?

What does a Trustee director do?

All the Trustee directors play an important role in protecting members’ interests in the Plan.

Their main responsibilities include making sure that:

• the Plan’s assets are managed and invested prudently
• the correct contributions are paid to the Plan
• the administrators pay the correct benefits to members
• the Plan is adequately funded
• accurate records are kept, and
• members are fully informed about their benefits

Although the Trustee directors are responsible for these areas, they appoint specialist advisers to help them.

You can find out more about what’s involved in being a Trustee director from the Pensions Regulator’s online guide at www.thepensionsregulator.gov.uk/trustees.

How much time is involved?

Here’s an idea of what you’ll need to commit to in a year:

• Four Trustee board meetings, lasting for up to two days each
• Reading to prepare for each meeting in advance
• Ad hoc meetings and monthly training sessions
• Sub-committee meetings in between Trustee board meetings – at least 4 a year

The Trustee has four sub-committees dedicated to the Plan’s governance, investments, communications and discretions – you’ll join one or more of these.

Meetings are a mixture of virtual and in person, so you may need to travel occasionally. Your travel expenses will be covered.

Your work plan will be updated so you have time in your working day to do any pre reading, and you can use work time to join any sessions or meetings as needed.

Training

Within six months of becoming a Trustee director, you’ll need to complete the free, online training programme for Trustee directors, at: trusteetoolkit.thepensionsregulator.gov.uk.

You’ll also be expected to complete new training modules released by the Pensions Regulator within six months of these being published.

How long is the term of office?

Member-nominated directors serve for a period of six years and can be reappointed for a further four years if they wish to stand again.

You can resign at any time by writing to the Secretary of the Board and Chair of the Trustee.

Who can be a member-nominated director?

You can put yourself forward for selection if:

✔ you’re a contributing member of the DC Section of the Plan

AND you haven’t:

✘ been convicted of any offence involving dishonesty or deception
✘ been subject to bankruptcy or impounding, in both cases undischarged
✘ made an arrangement with creditors that hasn’t been discharged
✘ been disqualified as a company director
✘ been suspended or disqualified from being a Trustee director by the Pensions Regulator.