Telefónica UK Pension Plan – Member Nominated Trustee (MNT) Elections 2018
In addition, Martine Trouard-Riolle was appointed in October 2016 by the Employer as an additional Director. Martine is a director of Capital Cranfield Trustees Limited, an independent trustee firm, and brings additional experience and in-depth expertise to the Board. Please click here for more details.
What’s the role of a Trustee?
Trustees have the responsibility to ensure the Telefónica UK Pension Plan is run correctly. They have a duty to act in the best interests of all members. Trustees need to understand the key requirements of the role and have a passion to ensure the members’ interests are always at the heart of their thinking.
What could the Trustees' duties include?
As a Trustee they would attend quarterly Trustee Board meetings where all matters relating to both the Defined Benefit and Defined Contribution pension arrangements are discussed. They will be a key influencer over investment choices, communications, and many other decisions which impact the members of the Plan. They will also be a member of sub-committees where they will influence the security and administration of the members’ benefits as well as enhancing the members’ experience.
What’s the structure of the board?
We currently have seven Trustees, four nominated by the Company and three elected by the members. We are looking to fill one MNT position by January 2019. A full list of the current Trustee board can be found here.
Who can be a Trustee?
The following individuals can be a Trustee of the Plan:
- Active Contributing Members - Currently working for Telefónica UK making monthly pension contributions.
- Deferred Pension Plan Members - An Active employee currently working for Telefónica UK who has been a pension plan member, but is currently not making monthly pension contributions.
- Pensioner member i.e. someone who is drawing their pension from the Plan.
- A recognised Trade Union Official.
Please feel free to explore the Telefónica Pensions Website to read more about the Plan and our Trustees.
The Telefónica Pensions Team