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

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


Was this page useful?


Sorry, there was a problem and your feedback has not been submitted. Please contact us if this reoccurs.