ERRATA - LTB 159/24 - BTPS MND Process 2
No. 159/2024
Dear Colleague
BT PENSION SCHEME: MEMBER NOMINATED DIRECTOR VACANCY
I am writing to advise that there are two vacancies for a Trustee of the BT Pension Scheme (BTPS). Trustees of the BTPS are known as Member Nominated Directors or MNDs. The vacancies have arisen because two MNDs, Beryl Shepherd and Ben Marshall, have decided not to seek a further term of office. Beryl’s term of office ended in May 2024 and Ben’s will end in January 2025.
Applications for the vacancy must be submitted by 10am on 26th July 2024. The CWU, Prospect and the National Federation of Occupational Pensioners (NFOP) are all advertising this position.
Member Nominated Directors
The Directors of the BTPS are responsible for running one of the UK’s largest private sector pension schemes which has around 260,000 members and assets of over £35 billion. It is a role with wide ranging responsibilities and one that requires a high degree of personal commitment. The role includes responsibility for the administration of the BTPS, the investment strategy, dealing with personal dispute cases and agreeing funding arrangements with BT.
There are nine Directors of the BTPS as follows: four MNDs are nominated jointly by the CWU and Prospect (following consultation with the NFOP); four nominated by BT; and an independent Chair nominated by BT following consultation with the Unions. The MNDs are selected according to the procedure attached to this LTB, by a panel comprising representatives of the CWU, Prospect and NFOP.
To become an MND an individual must satisfy one or both of the following criteria:
Membership of the BTPS, current or past, and have a good knowledge of and commitment to occupational pension schemes
Have direct responsibility for or direct involvement in occupational pension scheme matters and have a good knowledge of and commitment to occupational pension schemes.
MNDs are expected to devote sufficient time as necessary to carry out their duties. This is expected to be around thirty to thirty-five days a year. The time commitment in the first year following the appointment may be higher as the MND may require time to familiarise themselves with the rules and operation of the Scheme. Director meetings are normally held in central London.
Further information about the BTPS and the current trustee arrangements can be found at:
Further information about the BTPS and the current Directors can be found on
Applications
Any CWU member who wishes to self-nominate themselves for this position must send the following to CWU HQ, having first read the nomination and selection procedure attached below:
A CV of no longer than two A4 pages
A statement no longer than two A4 pages outlining why they would be suitable for this position and how they satisfy the criteria.
Potential applicants should note that there are legal restrictions on who can be an MND. Individuals cannot serve as an MND if they are: an undischarged bankrupt; have an unspent conviction involving dishonesty or deception; or have been disqualified from being a company director or a Trustee.
In the event of multiple nominations, the selection panel will consider all applications and if appropriate conduct formal interviews. Interviews will take place in London on a date agreed in conjunction with Prospect and the NFOP. Applications should be sent by post to Karen Rose at CWU HQ or by email to ebell@cwu.org to arrive no later than 10am on 26th July 2024.
Yours sincerely
Karen Rose
DGS T&FS
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