Digital Edition of latest supplement
Unions to step up campaign for 50% MNTs
UNIONS are set to step up their campaign to make sure trustee boards are made up of at least 50pc member nominated trustees, the Trades Union Congress says.
Speaking at a TUC conference for pension fund trustees, general secretary Brendan Barber said the first challenge would be to build on the success of existing member nominated trustees.
He said: "That means not just expanding our network of over 1000 member nominated trustees but making sure member nominated trustees remain an absolutely integral part of scheme governance."
Barber added: "At a time of corporate belt-tightening, when pension schemes are sadly an obvious target for cost-cutting, the importance of good governance cannot be overstated.
He said the TUC welcomed the government’s aim to have 50pc of trustee boards made up of member nominated trustees, but said not enough progress had been made in delivering this "aspiration".
Comment on this story
Related News
- Pensions Review debate live - 27 Jun 2008
- SWIP reveals pensions saving is inadequate - 30 Jun 2008
- Managers believe trustee training should be mandatory - EXCLUSIVE - 26 Jun 2008
Viewpoints
- The weakest link - 27 Mar 2008
- How far do you go? - 20 Mar 2008
- Take the long-term view - 13 Mar 2008
Subscribe to print edition
30 Jun 2008 08:53 by TMonk Unions and MNT's
Whilst it is an admirable objective I fear Mr Barber may not have read of the difficulties schemes are having in attracting trustees let alone 50%
There are many schemes outside the influence of the TUC and through all professional organisations connected with pension schemes it is the job of all of us to encourage greater participation at trustee meetings from lay trustees but they do need to understand the conflicts they may face and have to handle that can so often be dealt with by negotiation and not confrontation
30 Jun 2008 16:06 by BHolden Unions and MNTs
In the complex and confusing environment that currently [and always will] surrounds trustees, it is not sufficient to view increased MNT involvement merely as an "aspiration". Whilst the principles of trusteeship are still relevant to the governance of pension schemes, it is when we seek to incorporate a structure of lay involvement into the system that the debate becomes less clear because of the ever-increasing, onerous and continually confusing responsibilities. Employers and their scheme members, whether in a trust-based, contract-based or any other type of scheme, want and deserve a simpler and more user-friendly approach that will encourage and not obstruct.