About Your Scheme

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.

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

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 been an Independent Director of KAZPost JSC, Kazakhstan since 2008. His other previous posts included that of Chief Financial Officer and Co-Chairman of Reed Elsevier, the publishing and information company.
Chris Cheetham has a wide range of investment experience at a senior level, including 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.	Olivia Dickson is a non-executive Director of the Boards of Investec plc, Canada Life Limited and the Senior Independent Director of Invista Real Estate Management Holdings plc. Also a member of the Financial Reporting Council's Board for Actuarial Standards, the Financial Services Authority's Regulatory Decisions Committee and the Pensions Regulator's Determinations Panel, Olivia has served in a number of senior roles in other organisations.  While at JP Morgan, Olivia was a non-executive Director and Chair of the Audit Committee of the London International Financial Futures Exchange.
Vivien Cockerill is a qualified solicitor and Head of Pensions Strategy and former pensions partner at Wragge and Co. 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.	Michael Woodmore was formerly Group Services Director of RHM and Chairman of the RHM Pension Scheme and its Investment Committee. He now holds a number of trustee appointments and is a Non-Executive Director of a Housing Association.

The Pensioner Representative Trustees

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 Costal Villages.	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 Services Authority.
John Stones is the Pensioner Representative Trustee for Yorkshire and North Lincolnshire. He was a member of the Yorkshire Area and National NUM Executive Committees and a member of the MPS during his employment in the industry.	Joe Wills is the Pensioner Representative Trustee for Central and Southern England and South Wales. He has worked in the industry since leaving school, was a member of the NUM National Executive, and is presently General Secretary for the NUM Midlands Area.
Alan Gascoyne is the Pensioner Representative Trustee for Derbyshire, Nottinghamshire and Lincolnshire. He is president of the NUM Derbyshire Area and was a member of the MPS during his employment in the industry.

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 Administration and Benefits Sub-committee deals with the administration of the Scheme and benefit issues. Monitoring the performance of the MPS administrator is a key aspect of their duties. Present members are Mr Woodmore (Chairman), Miss Cockerill, Mr Clelland and Mr Stones.
• 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), Miss Cockerill, Mr Young and Mr Wills.
• 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 Mr Woodmore (Chairman), Miss Cockerill, Mr Clelland and Mr Stones.
• The Risk and Assurance Sub-committee oversees the Trustees’ overall risk management framework to ensure it is efficient and capable of providing an appropriate level of assurance. Present members are Mrs Dickson (Chairman), Mr Woodmore, Mr Clelland and Mr Gascoyne.