The Trustees

Trustees of the Mineworkers’ Pension Scheme (the Trustee)
The Scheme’s Committee of Management (the Committee) is made up of ten Trustee Directors. Five are appointed and five are elected.

Appointed Trustee Directors
Appointed Trustee Directors are appointed, and may be removed, by the Committee. When there is a vacancy, a Nomination Group of two appointed and two elected Trustee Directors is set up to find a suitable replacement. The Nomination Group then make a recommendation to the Committee. The term of office for an appointed Trustee Director is three years. The maximum number of terms an Appointed Trustee Director can serve is three, although this can be extended with the agreement of the Secretary of State for Business, Energy and Industrial Strategy (the Guarantor).

Elected Pensioner Representative Trustee Directors
The Pensioner Representative Trustee Directors are elected by Scheme members from five constituencies. The term of office for an elected Pensioner Representative is five years after which he or she will be eligible for re-election. There is no maximum number of terms for an elected Pensioner Representative.


MPS constituencies

Yorkshire & North Lincolnshire

Scotland, North West England & North Wales

Central & Southern England & South Wales

Derbyshire, Nottinghamshire & Lincolnshire

North East England & Overseas


MPS Appointed Trustees


Chris Cheetham (Chair of CoM)

I was first appointed as a Trustee in September 2009 and until 30 June 2017, I was the Chair of the Investment Sub-committee. I was appointed as Chairman of the Committee of Management on 1 July 2017 and am currently a member of the Member Experience Sub-committee and the Discretions & Appeals Sub-committee. I have 35 years’ experience in the investment management industry and have a wide range of investment experience at a senior level. Some of my previous roles include CEO of AXA Investment Managers UK and Director of Investment Strategy Research at Prudential Portfolios Management. I am currently Global Chief Investment Officer at HSBC Global Asset Management.

Karen Jones (Chair of MESC and DASC)

I was appointed as a Trustee in September 2017 and I am Chair of the Member Experience Sub-committee and the Discretions & Appeals Sub-committee. I have spent 25 years in the pensions industry and have been Chairman of three pension scheme trustee boards. I have a wide experience of occupational pension schemes and am currently Staff Pensions Director of Aviva, where my role covers all aspects of pension scheme management.

Ian Maybury

I was appointed as a Trustee in September 2014 and am currently a member of both the Investment Sub-committee and the Risk & Assurance Sub-committee. I am an experienced trustee and actuary with expertise in investment and risk management. I have held actuarial and management roles at Royal London, and investment consulting and asset management roles at Redington and Schroders respectively. I have previously held Trustee roles at Royal London and Citi and I am currently 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.

  James McAleenan (Chair of RASC)
I was appointed as a Trustee in August 2018 and I am Chair of the Risk & Assurance Sub-committee. Having worked in the financial industry for over 40 years, for KPMG, JPMorgan and BNP Paribas, I retired from full time employment in 2016 and am now a part time Trustee and Non-Executive Director for a charity, for a financial consultancy as well as for the Mineworkers' Pension Scheme. My experience in financial services includes roles as a Pension Trustee, as Chair of an Audit and Risk committee and as a CEO for a service provider to the pensions and investments industry.
trickett

Paul Trickett (Chair of ISC)

I joined the Committee of Management on 1 July 2017 as a Trustee and as Chair of the Investment Sub-committee. I spent the first 19 years of my career with the National Coal Board, starting as a graduate trainee and subsequently as Head of MPS Pensions Administration and MPS Scheme Secretary. I moved to Towers Watson where I spent 13 years as an investment consultant. In 2011 I joined Goldman Sachs Asset Management as Head of Global Solutions, EMEA before leaving in 2013 to undertake a number of roles within investment management and pensions. These roles currently include Chair of Railpen Investments, and non-executive director and Chair of Investment Committee at Aviva Life Holdings. I am also a non-executive director at Thomas Miller Holdings.


MPS Elected Trustees


Ken Capstick

I am the Pensioner Representative Trustee for Yorkshire and North Lincolnshire, having been elected in October 2016, and am currently a member of both the Member Experience Sub-committee and the Discretions & Appeals Sub-committee. I worked underground in the mining industry for 38 years and was an NUM Branch Delegate and NUM Yorkshire Area Executive member and Vice-Chairman of the NUM Yorkshire Area. I worked as a coordinator of further and higher education for Thomas Danby College in Leeds before becoming editor of the NUM Journal ‘The Miner’ and administrator of the NUM’s website, positions I held for six years until 2010. I am on the Guardian’s ‘Comment is Free’ online panel and have been commissioned by the Guardian to write a number of articles. I hold an intermediate certificate in bookkeeping.

Bobby Clelland

I was first elected as the Pensioner Representative Trustee for Scotland, North West England and North Wales in October 2009. I am currently a member of the Investment Sub-committee, the Member Experience Sub-committee and the Discretions & Appeals Sub-committee. I worked underground for 26 years and was also Captain of the Mines Rescue Brigade. I am an active member of the NUM and have held various positions over the years. I am currently a representative for the medical appeals tribunal and an elected member of the Fife Council for West Fife and Coastal Villages.

Anthony W. Jones

I was first elected as the Pensioner Representative Trustee for Central and Southern England and South Wales in October 2012 and am currently a member of the Risk & Assurance Sub-committee. I worked underground for 22 years, holding various posts in the industry; I served as Lodge Committee Secretary, and Chairman of the NUM South Wales Area. I was a previously elected member of Carmarthenshire County Council, and a Board Member of Dyfed Pension Scheme. I am currently Trustee of Ammanford & District Miners Welfare, the Swansea Valley Miners Disaster Trust and Ammanford Miners Theatre.

Mick Newton

I was elected as the Pensioner Representative Trustee for Derbyshire, Nottinghamshire and Lincolnshire in October 2019, and am currently a member of the Risk & Assurance Sub-committee. I worked underground in the mining industry during the 1980s and 1990s at Thoresby Colliery, and have served as a youth delegate, Branch President and delegate of the NUM. I served as a County Councillor for Mansfield District Council and Nottinghamshire County Council between 1993 and 2001, and am currently Chair of my Local Community Association and East Midlands Regional Secretary of the National Pensioners Convention.

Allen Young

I was first elected as the Pensioner Representative Trustee for North East England and Overseas in April 2005 and am currently a member of the Investment Sub-committee. I worked in the coal industry for 20 years and my previous experience includes positions as a Lodge Secretary and Member of the NUM’s Durham Area and North East Area Executive Committee. I am currently an Independent Financial Adviser regulated by the Financial Conduct Authority.

The Trustees must adhere to the Scheme Rules and legislation, they must act wisely, responsibly and honestly, and most importantly they must act in the best interests of Scheme beneficiaries. The Trustees’ main responsibility is to pay Scheme beneficiaries the right benefits at the right time in line with the Scheme Rules. Their duties are wide ranging as set out below:

Monitoring investment performance and strategy

The Trustees work with their investment adviser to ensure the current strategy remains on target to deliver the Trustees’ investment objectives. They also use an independent investment performance measurer.

Investment strategy & investment of the Scheme’s assets

The Trustees must make sure their investment strategy is consistent with their funding objectives and the amount of risk they are willing to take. They must also bear in mind the Scheme’s regular need for funds to pay benefits and other expenditure.

Scheme advisers

The Trustees are legally responsible for the administration, management and investment decisions relating to the Scheme.

They have appointed specialist providers to help them run the Scheme effectively, including:
  • A Scheme Actuary - the Government Actuary
  • An Administrator - Capita Employee Benefits
  • An Auditor - Ernst & Young LLP
  • An Executive - Coal Pension Trustees Services Limited
  • An Investment adviser - Coal Pension Trustees Investment Limited
  • A Principal Legal adviser - Linklaters LLP

Statement of investment principles

Under the Occupational Pension Schemes (Investment) Regulations 2005, the Scheme is not required to produce a Statement of Investment Principles. However the Trustee is required to prepare and maintain a written statement of the principles governing investment decisions. The statement, which is reviewed at least every three years and immediately after any significant change in investment policy, is available on request to the Scheme Secretary.

Risk management

The Trustees have procedures in place to manage the risk of failure to achieve their objectives and give reasonable assurance against significant misstatement or loss. The procedures include a system of controls to help the Trustees identify, assess, prioritise and manage the Scheme’s risks.

 

Providing information to members

The following information is available to MPS members on request to the Scheme Secretary:

  • The Scheme’s Trust Deed & Rules
  • Actuarial Valuation reports

Pensions Newsline, the Scheme's Report & Accounts and some useful factsheets can be found by clicking on the link below:

Scheme publications and factsheets

Resolving disputes

The Scheme has a formal procedure for resolving complaints - the Internal Dispute Resolution Procedure. Any complaint which the Scheme’s Administrators have been unable to resolve can be referred to the Scheme Secretary to be considered at the First stage of the procedure. Anyone who is not satisfied with the First stage decision can ask to go to the Second stage. The complaint would then be considered by the Trustees’ Discretions and Appeals Sub-committee.

If you are not satisfied with the decision at the second stage of the MPS Internal Dispute Resolution procedure you can contact The Pensions Advisory Service (TPAS) for help and advice. TPAS is a voluntary organisation of pensions professionals who give free and independent advice. TPAS can help at either Stage of the Scheme's Dispute Resolution Procedure. If TPAS are unable to resolve matters you can ask the Pensions Ombudsman to investigate your complaint. The Ombudsman will not normally consider a complaint unless an attempt has been made to resolve it through the Scheme's dispute procedure and through TPAS.

Record keeping

One of the most important requirements for the Trustees is to ensure the Scheme has good quality member data.

The Scheme’s Administrator is responsible for looking after member data and carries out regular data reviews to help check that the data is correct and up to date.

You can help the Trustees by telling the Scheme Administrator if your personal details change.

Conflicts of interests

The Trustees are required to declare any conflicts of interest which may arise in the conduct of Trustee business and decision making.

Training

All Trustees need to be able to contribute fully to the Committee’s decision making. The issues on which the Trustees are required to take decisions are complex and require a degree of Scheme and financial knowledge.

Training is provided to all new Trustees to ensure they are able to fully meet their responsibilities, and comply with the trustee knowledge and understanding requirements of pensions law. A continuing programme of training for all Trustees complements their existing knowledge.

Payment to Trustees

Members of the Committee are entitled to receive payment for the work they carry out for the Scheme.

The rates of remuneration are set by the Guarantor for Committee posts, other than the Chairman,  the Chairman of the Investment Sub-committee (ISC) and the Chairman of the Risk and Assurance Sub-committee (RASC) which are set by the Committee after showing that the pay rates have been benchmarked to the satisfaction of the Guarantor.

Sub-committees

Member Experience Sub-committee (MESC)
The Member Experience Sub-committee focus on the quality of the Scheme members’ experience. Is responsible for overseeing the administration of the Scheme and monitoring the performance of the Scheme Administrator, ensuring that high standards are in place so that member needs are properly met both in timescale and accuracy. MESC is also responsible for the development and implementation of an effective communications strategy with members.

Risk and Assurance Sub-committee (RASC)
The Risk and Assurance Sub-committee reviews and monitors the overall risk management framework of the Scheme, and many of the day-to-day risks which might affect the Scheme. It also monitors all Scheme costs other than those relating to investment management, which are monitored by ISC.

Investment Sub-committee (ISC)
The Investment Sub-committee is responsible for the Scheme’s investment objectives, policies and strategy. ISC is also responsible for the appointment and monitoring of investment managers, consultants or other investment advisers. It also sets clear objectives, risk parameters and scope for these appointees, and is responsible for their oversight and for measurement of their performance. The Trustee membership of the Investment Sub-committee is supplemented by two non-voting members who assist with the specialised issues involved.

Discretions and Appeals Sub-committee (DASC)
The Discretions and Appeals Sub-committee considers complaints made under the second stage of the Scheme's Internal Dispute Resolution procedure, and provides guidance on certain discretionary cases. 

Close