Member Nominated Trustees
URPS is set up under trust in order to safeguard members’ benefits and to participate in the tax advantages available to registered pension schemes. Because of its trust status, a Board of Trustees is appointed to be responsible for the overall management and administration of the Scheme.
The Board of Trustees (five Trustees in total) includes two individuals who are active members of the Scheme themselves. These member Trustees are known as Member Nominated Trustees (or MNTs) and they have all chosen to become Trustees and been voted into place by other members of the Scheme.
Changes to MNT arrangements 2020
The Trustee Board carried out one of its regular reviews of the rules and process for appointing Member Nominated Trustees (MNTs) in July 2020 and a few changes were agreed. An overview of these changes can be found here - URPS MNT Rules and Process Changes July 2020 and the full details are available in the URPS MNT Rules July 2020.
Your Member Nominated Trustees
Members of the Fund who have been elected as Trustees of the Fund are as follows:
|Name||End of appointment|
|Miss Lisa Stoneemail@example.com||31/12/2023|
|Mr Yanos Soubieskifirstname.lastname@example.org||12/05/2025|
|Mr Bassel Aboulhassanemail@example.com||30/09/2025|
What is a Trustee?
The Trustees administer the Scheme in accordance with legal documents which contain the framework of the Scheme, including the Trustees' powers and duties and set out the rights and interests of the beneficiaries. The Trustees must act impartially at all times for all beneficiaries and not a particular class of beneficiary.
Much of the day to day duties are carried out or delegated to specialists appointed by the Trustees. These include the scheme administrator, our investment managers, legal adviser and investment consultant. These are all supported by the University’s Pensions team.
Whilst you do not have to be a pensions expert, the law does require Trustees to have an understanding of the law relating to pensions and trusts, the funding of pension schemes and investment of scheme assets. There are civil and criminal penalties which may apply to Trustees who fail to exercise their statutory duties.
As a Trustee you have to act in accordance with legislation. For example, The Pensions Regulator has put in place requirements, known as the Trustee Knowledge and Understanding requirements and an MNT will have to be familiar and comply with these.