Trustees must design and operate member-nominated trustee (MNT) arrangements which are appropriate for their scheme and meet The Pensions Regulator’s (TPR) principles of fairness, proportionality and transparency. Many boards diligently designed arrangements in or around 2006 but have made relatively minimal changes since then.
As boards are also required to review their arrangements both periodically and after a material change, for many schemes it's time for a redesign. A redesign also presents a valuable opportunity...
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