The Trustees

The Committee of Management

Trustees of the Mineworkers’ Pension Scheme Limited (TMPSL) is the MPS trustee company whose ten directors are responsible for managing the Scheme. They form the Scheme’s Committee of Management.

Appointed Trustees

Of the ten members of the Committee of Management, five are appointed, and may be removed, by the Committee. A Nomination Group makes recommendations to the Committee for these five Trustees, from whom are drawn the Chairman and the Chairmen of the Sub-committees. The appointments of the Scheme Chairman and the Chairman of the Investment Sub-committee require the consent of the Guarantor.

Elected Trustees

The remaining five members of the Committee are Pensioner Representatives elected by Scheme members from five geographical constituencies. The period of office for new Pensioner Representatives is five years.

All Trustees are entitled to receive payment for their work as members of the Committee. The rate of remuneration is set by the Guarantor and is confirmed in the Scheme’s annual Report and Accounts.

Each Trustee has a duty to consider the interests of every member and beneficiary of the Scheme. Trustees have a duty to represent the interests of pensioners and deferred members equally, regardless of whether they are appointed or elected Trustees. Elected Trustees are unable to treat members in their constituency in a more favourable way to that of the other constituencies.

investment

The Trustees’ duties and responsibilities

The Trustees are responsible for the management of the MPS, including investing the Scheme’s funds, and for ensuring that benefits are paid in accordance with the Rules.

The Trustees’ duties and powers are defined in the MPS Scheme and Rules and in the general law. Trustees must act honestly, prudently and conscientiously in the best interests of all the beneficiaries of the Scheme.

Trustees appointed by the Committee of Management

Stapleton

Nigel Stapleton is Chairman of the Scheme's Committee of Management. He was Chairman of the Postal Services Commission, the independent regulator of UK postal services for two terms from 2004 to 14 January 2011 and he has also been an Independent Director of KAZPost JSC, Kazakhstan. He is currently Chairman of the National Grid Pension Scheme. His other previous posts included that of Chief Financial Officer and Co-Chairman of Reed Elsevier, the publishing and information company.

Chris Cheetham

Chris Cheetham has a wide range of investment experience at a senior level, including previous roles as CEO of AXA Investment Managers UK and Director of Investment Strategy Research at Prudential Portfolios Management. He is currently Global Chief Investment Officer at HSBC Global Asset Management.

Sophie O'Connor is a Chartered Accountant with 15 years' experience at senior level at Bank of America Merrill Lynch. Sophie was previously a Non-Executive Director of Habinteg Housing Association and a Trustee of Caparo Pension Scheme. She is a non-executive Director of BNY Mellon (International) Limited, Reliance Mutual Insurance Society Limited, BUPA Insurance, and a Trustee of Chance to Shine charity.

vivien_cockerill

Vivien Cockerill is a qualified solicitor and was Head of Pensions Strategy and former pensions partner at Wragge and Co (now known as Gowling WLG). She was previously an elected member of the main committee of the Association of Pensions Lawyers, a TPAS board member and Chair of the West Midlands NAPF Group. Vivien is Chairman of the Wellcome Trust Staff Pension Plan and the Schroders Retirement Benefits Scheme.

Ian

Ian Maybury is an experienced trustee and actuary with expertise in investment and risk management. Previously, Ian has held actuarial and management roles at Royal London, with investment consulting and asset management roles at Redington and Schroders respectively. He also previously held Trustee roles at Royal London and Citi. Ian is an independent Trustee director of the Universities Superannuation Scheme and a Trustee of the Citigroup, Unilever and the Royal National Institute of Blind People pension schemes.

The Pensioner Representative Trustees

bobby_clelland

Bobby Clelland is the Pensioner Representative Trustee for Scotland, North West England and North Wales. Bobby is an active member of the NUM, holding various positions over the years. He is currently a representative for the medical appeals tribunal and an elected member of the Fife Council for West Fife and Coastal Villages.

allenyoung

Allen Young is the Pensioner Representative Trustee for North East England and Overseas. Allen's previous coal industry experience includes positions as a Lodge Secretary and Member of the NUM’s Durham Area and North East Area Executive Committee. Allen is currently an Independent Financial Adviser regulated by the Financial Conduct Authority.

Ken Capstick is the Pensioner Representative Trustee for Yorkshire and North Lincolnshire. He worked underground in the mining industry for 38 years, was an NUM Branch Delegate and was NUM Vice-Chairman of the Yorkshire Area.

Anthony Jones

Anthony W. Jones is the Pensioner Representative Trustee for Central and Southern England and South Wales. He previously worked underground holding various posts in the industry and served as Lodge Committee Secretary, and Chairman of the NUM South Wales Area. He is currently an elected member of Carmarthenshire County Council and Trustee of Ammanford & District Miners Welfare Association.

john-bonser

John Bonser is the Pensioner Representative Trustee for Derbyshire, Nottinghamshire and Lincolnshire. He worked underground in the mining industry for 36 years at New Hucknall and Annesley Colliery. He has served as an NUM and UDM Union Branch Official and Union Social Insurance Officer and is President of the Midland Miners Fatal Accident Relief Society. He is also an elected Trustee of the Nottinghamshire and District Miners Pension Scheme.

Sub-committees

The Committee of Management is responsible for the overall management of the Scheme. To help perform its duties and to streamline decision making, the Committee has established and delegated certain of its powers to a number of Sub-committees.
The principal Sub-committees have an equal number of elected and appointed Trustees.

The principal Sub-committees are as follows:

  • The Investment Sub-committee oversees the implementation of the Scheme’s investment strategy by its investment managers, monitors the performance of each investment manager and considers investment issues. Present members are Mr Cheetham (Chairman), Mr Maybury, Mr Clelland and Mr Young.
  • The Discretions and Appeals Sub-committee has powers to award certain discretionary benefits. This Sub-committee also considers appeals made at the Second Stage of the Scheme’s Internal Dispute Resolution procedure. Present members are Miss Cockerill (Chairman), Mrs O’Connor, Mr Bonser and Mr Jones.
  • The Risk and Operations Sub-committee oversees the Trustees’ overall risk management framework to ensure it is efficient and capable of providing an appropriate level of assurance. It also deals with the administration of the Scheme and benefits issues, monitoring the performance of the MPS administrator is a key aspect of their duties. Present members are Miss Cockerill (Chairman), Mrs O’Connor, Mr Bonser and Mr Jones.