Governance

One of the keys to good governance is ensuring adequate Trustee knowledge, training and performance evaluation.

All the Trustee Directors currently have the skills and knowledge necessary to carry out their role effectively. New Trustee directors complete a self-assessment questionnaire to identify their training needs. Suitable initial and ongoing training is then provided. All Trustee Directors are asked annually (at least) to identify their further training needs.

The Chairman of the Trustee Board, supported by the Secretary to the Trustee, is responsible for a formal and rigorous annual appraisal of the Trustee Directors. This includes an assessment of their competence in the various areas of trusteeship, and the need for further training.

The Chairman of the Trustee Board is responsible for ensuring that Trustee Directors taking investment decisions are familiar with the issues involved and are able to evaluate critically any advice received. The Trustee applies the Myners Principles, but has taken a deliberate decision that strategic investment issues should be considered by the Trustee body as a whole, and not by a subcommittee. The Trustee Directors believe that investment strategy (as opposed to day-to-day) decisions should be considered by the full Trustee body. Investment Committee considers more detailed and tactical issues. A sub-committee with appropriate expertise may be appointed from time to time for specific projects.

The Trustee believes that it is at the forefront in adhering to the Codes of Practice issued by the Pensions Regulator. The Trustee has a forward-looking business plan that, amongst other matters, sets out what issues should be considered by the Trustee, and when.

Frequent questions

Please click on the appropriate section: