The Trustee
The Scheme is managed by Maersk RBS Pension Trustee Limited (the Trustee).
The Trustee is responsible for making sure that the Scheme is run properly and ensuring there’s enough money to provide your retirement income.
The Trustee holds regular meetings throughout the year. Despite not being able to meet in person during the pandemic, the Trustee continues to hold meetings virtually. The Trustee Directors have had full access to the information they need and have been able to consult their advisers when required. You can be assured that the Trustee continues to look after the Scheme on your behalf, notwithstanding the restrictions brought in due to the pandemic.
Meet the current Trustee Directors
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Nigel Pusey
Chair.Appointed 27 April 2005. -
Clive Allen
Member Nominated Director.Appointed 18 November 2016. -
Tony Mason
Appointed a Member Nominated Director 1 November 2005 to 31 May 2018 and a Company Nominated Director from 1 June 2018.
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Sandra Davy
Member Nominated Director.Appointed 3 August 2018. -
Changed to Zedra Governance Ltd 1 October 2022 (formerly Clear Pension Solutions Ltd)Independent Director represented by Stephen Yandle.Appointed 15 December 2020. -
Changed to Pension Lawyer Trustee Limited 16 December 2021 (formerly Pension Legacy Trustee Ltd)
Independent Director represented by Jane Kola.Appointed 15 December 2020.
What is the Trustee responsible for?
The Trustee has a number of responsibilities, including making sure that:
Retirement benefits are calculated and paid correctly.
Contributions are collected by the due date and invested appropriately.
The Scheme’s investment strategy is managed properly, including monitoring the performance of the Fiduciary Investment manager (the third party that manages the Scheme’s investments).
Accurate records are kept, audited accounts are produced, and any taxes are paid.
All necessary people and regulatory bodies are kept informed about the Scheme.
The Trustee has also established an audit committee consisting of Clive Allen as Chairman and Tony Mason. The committee is responsible for reviewing the accounts, arranging the annual audit, meeting with the Scheme’s auditors to review their findings and monitoring the services provided by the Scheme administrator.
Extension to Member Nominated Director’s Terms of Office
Clive Allen’s five-year term of office as director of the Trustee came to an end on 21 November 2021.
Given the Legal & General transaction and the data cleansing exercise currently being undertaken by the Trustee together with Clive’s involvement in these projects, his role as chairman of the Audit Committee and his knowledge and experience the Company, in consultation with the Trustee, has extended his term of office from and including 21 November 2021 through to and including 31 December 2024.
For similar reasons, the Company has also extended Sandra Davy’s current term of office, which is due to expire on 3 August 2023, to and including 31 December 2024.
The Company has also indicated that it may wish to further extend the current MNDs’ terms of office beyond 2024 as necessary for the efficient and effective operation of the Scheme.
The current MNDs’ terms of office have, in accordance with Company agreement and member-nominated trustee legislation, been duly extended to and including 31 December 2024.
April 2022
The Scheme’s advisers
A number of specialist advisers help the Trustee to run the Scheme:
Trustee adviser, providing general consultancy advice – Willis Towers Watson
Actuary – Neil Mobbs of Willis Towers Watson
Investment adviser – Willis Towers Watson
Solicitor – Travers Smith
Administrator – Mercer
ISIO – appointment terminated April 2021
Secretary to the Trustee, responsible for the day-to-day services provided to the members and Trustee – John McGurk