Welcome to the MPS Website

<body> <h1>Welcome to the MPS Website</h1><p></p></span></p><p></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >We hope you will find it a useful source of information on the Scheme, with all the current scheme publications, up to date information and news all in one place. It also provides contacts to other sites which may be of interest to coal industry pension scheme members.<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >Please give us your views on the Website, and your opinion of how the MPS is being run for your benefit. You will find a ‘feedback’ form in the CONTACTS area.<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >The members of the Committee of Management are usually referred to as “the Trustees”. Regardless of whether MPS Trustees are appointed by the Guarantor, or elected, each of them has a duty to consider the interests of all members and beneficiaries. The Trustee's duty is to act in the best interests of beneficiary and strike a fair balance between the interests of the different classes of beneficiary.<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >The Trustees of MPS are responsible for the financial management of the Scheme, including investing the Scheme’s monies, and for ensuring that benefits are paid in accordance with the Rules of the Scheme. Their duties and powers are set out in the Scheme and Rules. The Scheme and Rules were substantially amended in 1994 to provide for new management arrangements, which were put in place following the privatisation of British Coal. These new arrangements took effect from 31 October 1994 when most of the functions of British Coal in respect of the Scheme were transferred to the Secretary of State for Trade and Industry who acts as Guarantor to the MPS Scheme.<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" ><span></span><p></p></span></p><p ><span lang="EN-GB" ><span></span><span></span><span></span><span></span><p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >The Committee of Management<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >The Scheme operates as a pension trust and the Scheme’s Trustee is responsible for its management. The Trustee is Mineworkers’ Pension Scheme Trustees Limited (TMPSL). The ten directors of TMPSL form the Scheme’s Committee of Management. The Government, which acts as Guarantor to the Scheme, appoints five members of the Committee and five are Pensioner Representatives elected by Scheme members from five geographical constituencies.<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >Pensioner Representatives are appointed for a three year term. Elections are staggered so that there are elections in no less than two of the five constituencies at intervals of 18 months.<p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >The Guarantor appoints the Chairman of the Committee of Management after consultation with the Committee. The Trustees are entitled to receive payment for their work as members of the Committee. More details of these payments are contained in the Scheme’s Annual Report and Accounts.<span> </span><p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >If you paid Additional Voluntary Contributions (AVCs) as well as your normal MPS contributions, and did not transfer your AVC fund to another arrangement, you will have built up an MPS AVC fund with the Prudential.<p></p></span></p><p ><span lang="EN-GB" ><span></span><span></span><span></span><p></p></span></p><p ><span lang="EN-GB" ><span></span><p></p></span></p><p ><span lang="EN-GB" ><p></p></span></p><p ><span lang="EN-GB" >The MPS checks that pensioners are still entitled to benefit on an annual basis to ensure that no one receives benefits from the MPS that is not entitled to them, thus securing funds for the rightful beneficiaries.</span></p><br /> </body>