Member Nominated Trustees (URPS)

URPS is set up under trust in order to safeguard members’ benefits and to participate in the tax advantages available to registered pension schemes. Because of its trust status, a Board of Trustees is appointed to be responsible for the overall management and administration of the Scheme. 

 The Board of Trustees (five Trustees in total) includes two individuals who are active members of the Scheme themselves. These member Trustees are known as Member Nominated Trustees (or MNTs) and they have all chosen to become Trustees and been voted into place by other members of the Scheme. The current MNTs of the Scheme are as follows:

MNTs are appointed for a fixed term period of 5 years from the date of commencement. When that term of office comes to an end, the Trustee can choose whether to stand for re-election.

What is a Trustee?

The Trustees administer the Scheme in accordance with legal documents which contain the framework of the Scheme, including the Trustees' powers and duties and set out the rights and interests of the beneficiaries. The Trustees must act impartially at all times for all beneficiaries and not a particular class of beneficiary.

Much of the day-to-day duties are carried out or delegated to specialists appointed by the Trustees. These include the scheme administrator, our investment managers, legal adviser and investment consultant. These are all supported by the University’s Pensions Team.

Whilst you do not have to be a pensions expert, the law does require Trustees to have an understanding of the law relating to pensions and trusts, the funding of pension schemes and investment of scheme assets. There are civil and criminal penalties which may apply to Trustees who fail to exercise their statutory duties.

As a Trustee, you have to act in accordance with legislation. For example, The Pensions Regulator has put in place requirements, known as the Trustee Knowledge and Understanding requirements and an MNT will have to be familiar with and comply with these. 

Further information about the role of a Trustee can be found on the Pensions Regulator's webpages.

Should you have any queries regarding MNTs, please contact the Secretary to the Trustees at h.burnell@reading.ac.uk.