(The Law Debenture Pension Trust Corporation plc), Employer Nominated – Chair of Trustees.View Profile
The Scheme is run by a Trustee Board, which is made up of a mixture of Trustees appointed by the Employers and Trustees elected by the Scheme’s members.
The role of a Trustee is an extremely important one, which carries a great deal of responsibility. They attend many meetings throughout the year, especially during a valuation year. There is also a lot of reading and other preparation to be done between meetings. The Scheme Secretary helps ensure that decisions taken in these meetings are actioned appropriately.
The four key duties of all Trustees, according to the Pensions Regulator, are to:
- Act in line with the Trust Deed and Rules
- Act prudently, responsibly and honestly
- Act in the best interests of your beneficiaries
- Act impartially
Trustees must know their way around the Scheme and understand the basic principles of both the legal framework in which it operates and pension scheme funding and investment-related matters. It is the responsibility of each Trustee to ensure that their knowledge and understanding is kept up to date. They are supported in this by their specialist advisers.
The current Trustees are: