Being a Trustee

Read the transcript

As individuals we have many things in common... but we’re also wonderfully different in a variety of ways. As your Trustee Board, we believe that it’s these very differences that make us stronger — we value people with different perspectives, abilities and decision-making skills.

It’s also important that in serving our members we truly reflect their interests and experiences. So, when we’re looking to recruit new people to the Trustee Board, we might just be looking for you!

It’s our job to make sure the Fund is run as efficiently and effectively as possible, in line with the Funds’ rules and current pension law.

We’re made up of eight Trustee Directors. Four Employer Nominated Directors, or ENDs who are appointed by the Society, and four Member Nominated Directors, MNDs, who are appointed by you, our Fund’s members.

Each MND serves for a fixed period, usually a maximum of five years, so from time to time we are on the look-out for people to join the Board from the membership.

Interested? You don’t have to have a background in finance, investment, IT or even direct experience ... it’s your life experience that we’re interested in. We’ll provide all the training and support and remember you're not expected to be an expert, but you must be dedicated to protecting our members interests at all times.

You’ll learn plenty and we believe the role to be both fulfilling and rewarding.

So what would you be expected to actually do as an MND? Well, the first thing to say is that we break things into convenient chunks and where possible we work around you.

An MND’s role is flexible but you would be expected to:

  • Act in the best interests of members at all times;
  • Appoint and monitor, the Fund’s professional advisers and investment managers;
  • Consider expert technical and legal advice; Work collaboratively with the Society; and
  • Keep Trustee matters and business strictly private and confidential at all times.

As well as main Board meetings, there are three Committees which also meet quarterly to focus on key issues like administration and investment. Every END and MND sits on at least one Committee. An individual Trustee will have to put in around 15 days of commitment for meetings a year, with some preparation beforehand.

We know that having Trustees from different backgrounds and cultures means we benefit from having a range of perspectives in decision-making.
We’re keen to put these differences to work — to play vital roles in the management of our Fund, and so benefit our fellow members. That’s being stronger together.

If you think the role sounds interesting, go to the ‘How the fund is managed’ page on this website under ‘MNTD Elections’ to find out more.

Other videos