UoDSS Member Nominated Trustee (MNT) Information
University of Dundee Superannuation & Life Assurance Scheme
(1) Members in Pensionable Service
This announcement is issued by the Trustees of the Scheme.
CLERICAL MEMBER NOMINATED TRUSTEE
The current Clerical Member Nominated Trustee’s (MNT) term of office will expire on 25th May 2019. Consequently, the Trustees need to consult with you regarding the nomination and selection of a new MNT and/or re-selection of the existing MNT.
The purpose of this announcement is to set out the detail of the MNT arrangements which apply to the Scheme, and to invite you to make nominations.
2. Number of MNTs
At full quota, the Scheme has a total of nine trustees. Four of these trustees are MNTs and the rest are selected and appointed by the University of Dundee.
The four MNT positions represent the following constituencies;
- Technical Staff
- Manual Staff
- Retired Members
3. Trustees' Role
An MNT has exactly the same functions and responsibilities in relation to the Scheme as the other Trustees. These can be summarised as follows:
- to act in accordance with the Trust Deed and Rules of the Scheme, and within the framework of the law
- to act prudently, conscientiously and honestly and with utmost good faith
- to act in the best interests of all classes of beneficiary
- to take advice on technical matters and any other matters which are not understood
- to invest the funds of the Scheme
The Trustees are responsible for ensuring that the Scheme is administered in accordance with the Trust Deed and Rules, and the requirements of pension’s legislation. If the relevant Regulations and legislation are not adhered to, financial penalties or prosecution could result, and these could be imposed on the Trustees personally. However, the Trustees are indemnified by the University for any inadvertent mistakes.
The law requires that all trustees (including MNTs) should eventually have a certain level of knowledge and understanding to enable them to manage the pension scheme effectively. This is covered by a Code of Practice issued by the Pensions Regulator which can be found on the Regulator’s website, together with information about the Regulator’s E-Learning programme.
Indeed, anyone interested in becoming an MNT can get a flavour of what trustee duties are by looking at the first module of that E-Learning (trustee toolkit) programme at the following address:
Almost any person may become an MNT, although nominations of those who are not Members of the Scheme must be approved by the University. As the term of the current Clerical MNT expires on 25th May 2019, invitation for nominations is restricted to the members of this constituency i.e. Clerical members of staff.
The law provides that the following may not become, or may not continue to act as, a trustee
- a person convicted of any offence involving dishonesty or deception
- a person subject to bankruptcy or sequestration, in both cases undischarged
- a person who has made an arrangement with creditors but has not been discharged
- a person disqualified as a company director
- a person suspended, prohibited or disqualified as a trustee by the Pensions Regulator
A person who purports to act as a trustee whilst disqualified is committing a criminal offence.
5. Term of Office
An MNT will normally serve for a period of four years. At the end of that period, he or she may stand for re-election. However, it is the Trustees’ intention to stagger MNT appointments to ensure there is continuity of MNT experience on the Trustee board. As such, MNT elections may be carried out more frequently than every four years.
If an MNT resigns as a Trustee, then members will be given the opportunity to make further nominations.
If an MNT was, on appointment as a Trustee, a Member in Pensionable Service, he or she will automatically cease to be an MNT if he or she leaves the employment of the University. In this event, members will be given the opportunity to make further nominations.
Otherwise, an MNT can only be removed as a Trustee with the agreement of all the other Trustees.
6. Invitation for Nomination of MNTs
You may make a nomination of a MNT to represent the Clerical Constituency by using the Nomination Form attached to this Announcement. Only members of the Clerical Constituency can make a nomination, however, you may select any suitable person to be nominated. You must obtain the signature of the person you are proposing as MNT for your constituency.
If the person you nominate is not a Member of the Scheme then the University’s agreement to the nomination must be obtained and you must contact the Pensions Officer who will be required to sign part 2 of the Nomination Form on behalf of the University.
If you wish to make a nomination you must ensure that the completed form is received by the Pensions Officer by 28th February 2019
7. Election of MNTs
If there is just one nomination for this constituency, then he or she will become the MNT.
If we receive more than one nomination for this constituency, then there will be a ballot among the members of that constituency to decide who is elected. Each member may then cast one vote. The vacancy will be filled by the candidate who gets the most votes. A tie will be resolved by the candidates drawing lots.
If we do not receive any nominations to fill a vacant MNT position, a vacancy will exist for that constituency which may remain unfilled for up to 3 years. At that point, Members will again be asked for nominations.
We will advise you at the end of the nomination period as to the outcome of the process and whether there is to be a ballot.
If you have any questions about the above please contact:-
University Pensions Office
University of Dundee
Date: January 2019
|MNT Clerical Nomination Form|