LTB 638/2018 – BT PENSION SCHEME: MEMBER NOMINATED DIRECTOR VACANCY

No. 638/2018

12th November 2018

To: All Branches with BT members

 

Dear Colleague,

BT PENSION SCHEME: MEMBER NOMINATED DIRECTOR VACANCY

I am writing to advise that there is a vacancy for a Trustee of the BT Pension Scheme (BTPS). Trustees of the BTPS are known as Member Nominated Directors, or MNDs.

The vacancy has occurred because Adrian Askew has decided not to seek a further term of office when his current period of office runs out in January 2019.

Applications for the vacancy must be submitted by noon on the 3rd December.

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 pensions which has around 300,000 members and assets of over £50 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 shown below by a panel comprising representatives of the CWU, Prospect and NFOP.

In order 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 twenty five to thirty 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 Director arrangements can be found on www.btpensions.net

More general information about the role of Trustees/Directors is available from the following web sites:

Applications

Any CWU member who wishes to apply for this position must send the following to CWU HQ:

  • A letter of nomination from a CWU Branch.
  • A CV of no longer than one A4 page.
  • A statement of not more than 500 words 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. In particular, 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. Any interviews will take place on 12th December at CWU HQ.

Applications should be sent to Nigel Cotgrove at CWU HQ and by no later than noon on 3rd December 2018. Applications can be sent by post or by email to nigelcotgrovesoffice@cwu.org

Yours sincerely

 

Nigel Cotgrove

Assistant Secretary

638.2018

Procedure for the Nomination and Selection of Member Nominated

Directors

1. The existing four BTPS MNDs have been re-nominated for terms commencing 1 November 2007. The terms are for one year for one MND, two years for a second MND and three years for the remaining two MNDs.

2. Each MND is eligible for re-nomination for further terms of up to three years.

3. Where a vacancy for a MND becomes apparent, the CWU and Prospect (the BT Unions) will convene a selection panel in consultation with NFOP (the National Federation of Occupational Pensioners)

4. The selection panel will include four representatives of the BT Unions and two representatives of NFOP. The representation from the BT Unions will include at least one member of the BTPS. The representation from NFOP will include at least one member of the BTPS.

5. Each of the BT Unions and NFOP will be entitled to call for candidates for consideration by the selection panel using their normal communication channels. If necessary, the selection panel will draw up a shortlist of candidates for consideration.

6. The selection panel will determine its own selection process which will be based on reaching decisions by consensus. All decisions of the panel will be recorded and notified to the BT Unions and NFOP.

7. The panel will select one successful candidate for each MND vacancy. The intention will be to complete this part of the process, where possible, three months prior to the date of appointment.

8. Following selection, the successful candidate will be nominated by the BT Unions to BT who will appoint the candidate to the BTPS Trustee.

9. All candidates who apply to the selection panel must satisfy one or both of the following criteria:

(i) Membership of the BTPS, current or past, and have a good knowledge of and commitment to occupational pension schemes.

(ii) Have direct responsibility for or direct involvement in occupational pension scheme matters and have a good knowledge of and commitment to occupational pension schemes.

10. Existing MNDs will be re-nominated unless any one of the constituent organisations represented on the selection panel disagrees. Members of the constituent organisations will be so advised. The selection panel will also consider any additional nominations received.

11. If the re-nomination of an existing MND is not agreed by all the constituent organisations represented on the selection panel, the panel will be convened and all nominations satisfying the requirements laid down in paragraph 9 will be considered