Elections are due to take place during 2016, there will be two employer and two member representative vacancies.
During February 2016, your senior nominated contact will receive an electronic invitation to nominate an employer representative to stand as a candidate. To be eligible to stand as an employer representative the nominee must be either a Scheme member or pensioner, or an employee, or a member of your Management Committee. The employer must currently or previously have offered defined benefit.
The Committee has delegated powers from the Trustee of The Pensions Trust. It looks after the interests of the Scheme’s members and employers and is responsible for its successful operation. Its areas of responsibility include: scheme funding, monitoring investment performance, setting contribution rates and considering appeals.
The Committee currently meets at least four times a year in either Edinburgh or Glasgow. From time to time temporary working parties may be formed which may increase the time commitment required.
Committee members do not have to be pensions experts, however they must be willing to acquire sufficient pensions knowledge to fulfil the role and should consider the experience and attributes they would bring to the Committee. Members are expected to take at least 15 hours of pension-related training per year.
Participating on the Committee is voluntary but out-of-pocket expenses are refunded.