Member Nominated Trustees (UREPF)

Member Nominated Trustee applications are open!

The Trustees of the University of Reading Employees’ Pension Fund (UREPF) are seeking a new Member Nominated Trustee (MNT).

As the UREPF is set up under trust, a Board of Trustees is appointed to be responsible for the overall management and administration of the Fund. The Board of Trustees includes four individuals who are appointed by the employer and three individuals who are member-nominated.

One of the Fund's MNTs has recently decided to step down from their role. Their departure has created a vacancy, presenting an exciting opportunity for a new individual to join the Board. 

Who can become a Trustee and what is expected?

Generally, any member of UREPF is eligible to be nominated as a Trustee; no prior experience or knowledge of Trusteeship is required. The current Trustee Board values individuals who have a willingness to learn about the role and responsibilities of being a Trustee and who can actively participate in Trustee meetings (four per year) and training sessions. While MNTs are not expected to be pension experts, they should be committed to contributing positively to the Fund's governance. Full support will be provided by the Secretariat and external advisers when in post.

Please see the following documents which provide further information:

• MNT Person Specification
• MNT Role Description
• MNT arrangements

How does the appointment process work?

Anyone wishing to nominate themselves will need to submit a completed application form to the Secretary to the Trustees. Nominees will be checked for eligibility and, if more than one eligible nomination is received, then members will be asked to choose their MNT via a postal ballot. If only one eligible nomination is received, the nominee will automatically be selected. 

How do I apply for the role?

If you would like to be considered for the role of Member Nominated Trustee, please complete and return the ‘UREPF MNT Application Form’ below:

• UREPF MNT Application Form 

Once fully completed, this form should be returned to:

Mrs H Burnell
Secretary to the Trustees
University of Reading
Whiteknights
PO Box 217
Reading
RG6 6AH

Or it can be emailed to: h.burnell@reading.ac.uk 

We look forward to hearing from you!

More Information about UREPF MNTs:

The University of Reading Employees’ Pension Fund (UREPF) 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 Fund. 

The Board of Trustees (seven Trustees in total) includes three 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 Fund. The current MNTs of the Fund are as follows:

MNTs are appointed for a fixed term period of 5 years from the date of commencement. When that term of office comes to an end, the Trustee can choose whether to stand for re-election.

What is a Trustee?

The Trustees administer the Fund in accordance with legal documents which contain the framework of the Fund, 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 actuary.  These are all supported by the University’s Pensions Office.

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 with and comply with these. 

MNTs are appointed for a fixed term period of 5 years from the date of commencement and when that term of office comes to an end, we ask for volunteers to join the Trustee Board. Currently, we have a vacancy for an MNT. Please see above for further details.

Further information about the role of a Trustee can be found on the Pensions Regulator's webpages.

Should you have any queries regarding MNTs, please contact the Secretary to the Trustees at h.burnell@reading.ac.uk.