Booths Member Nominated Trustee

About the Scheme

The Scheme provides benefits on a defined benefit (‘DB’) basis.

The Scheme has no active contributing members, as from 30 November 2016 all employees who were contributing members of the Scheme at the time were offered the opportunity to build up future benefits in the E H Booth & Co. Limited Group Personal Pension Plan (“the GPP”), a Defined Contribution Scheme supported by E.H. Booth & Co. Limited (“the Company”).

The Trustee Board

The Defined Benefit Scheme is managed by a Trustee Company, E.H. Booth & Co. Pension Trustees Limited. There are currently 5 Trustees within this Trustee Company.

The Board is currently made up as follows:

• Three Trustees are chosen by the Company (one of these is a professional Trustee*);
• Two Trustees are nominated by and chosen from the Scheme’s membership (Member Nominated Trustees, or “MNTs”). There is currently one vacancy and we are inviting nominations to fill this role.

*A professional trustee is an individual or firm with specialist expertise in pension scheme governance, law, investments, and administration.

Additional details about the role:

• The term of office for the MNT position will be up to 4 years (subject to the termination and extension conditions which may apply).
• Each Trustee is equally responsible for the management and running of the Scheme and must act within the framework of the law.
• Meetings of the Trustees are generally every 3 months.
• If you are employed by the Company, you will be entitled to reasonable paid time off from your normal employment duties. Relevant expenses incurred as a Trustee will be reimbursed. You must also inform your line manager if you are interested in this role.
• Reasonable expenses associated with the Trustee role may be reimbursed.

Trustee responsibilities

What is a trustee

The Trustee of the Scheme is responsible for the proper running of the Scheme. Many of the Trustee’s duties arise from trust law. These are ‘fiduciary’ duties, which means that when you carry them out you must always act in the interests of the members of the Scheme. In summary the Trustee will:

• Make sure the money in the Scheme is invested wisely
• Make sure the correct benefits are paid to members
• Manage the Scheme in accordance with the Trust Deed and Rules and all relevant law
• Input into communications with members
• Attend meetings (at least quarterly and generally at Booths Head Office)
• Discuss key issues affecting the Scheme

Members look to the Trustee to make sure that the Scheme is well run and that their benefits are secure. Whilst this is a significant responsibility, support and advice are available from a range of sources.

Your advisers

The Trustees delegate certain tasks (such as administration) to advisers to carry out for them and the Trustee has professional advisers to provide training and advice as required.

You should ask your advisers to explain anything which you do not understand, and question or challenge them if you do not agree with their advice.

Working with the Company

The Trustee and the Company both have a vital role to play in the proper running of the Scheme. They need to form and maintain a good working relationship and regular consultation is important.

Scheme investments

A pension scheme will need to pay pensions a long time into the future. To meet all of the pension payments, the Trustees, after receiving advice from Isio, our investment advisors, will need to choose how to invest the Scheme’s assets.

Scheme funding

One of your most important responsibilities is, after receiving advice from our scheme actuary, to help agree the contributions paid by the Company to ensure there are sufficient funds to provide members’ benefits.

Administrative procedures

Good scheme administration is vital to the proper running of a pension scheme. Trustees should ensure Isio (the current scheme administrator) maintain adequate procedures so that the Scheme is administered effectively. Trustees should actively monitor the quality of the Scheme’s administration.

Trustee knowledge and understanding

You must be prepared to spend time to develop the level of knowledge required for the role. You will need to understand some details about pensions and the legal framework surrounding occupational pension schemes.

Pensions legislation requires Trustees to have knowledge and understanding of the law relating to pensions and trusts, the principles relating to the funding of occupational pension schemes and the investment of scheme assets. Trustees are also required to be fully conversant with their own scheme’s Trust Deed and Rules (i.e. have a working knowledge of those documents such that they are able to use them effectively when carrying out their duties).

Trustee qualities

A candidate for the Member Nominated Trustee Director role should be able to:

1. Look at things from a member’s perspective and understand what information they would need
2. Have a willingness and commitment to keep up to date with scheme and industry developments (based on advice received from the Trustee’s advisers)
3. Work collaboratively as part of the Trustee team
4. Absorb complex information (after training if appropriate) and think what it means for the Scheme and the members

The Pensions Regulator’s guidance

The Pensions Regulator is responsible for regulating work-based pension schemes in the UK. The Pensions Regulator publishes useful guidance and Codes of Practice on its website.

The Pensions Regulator’s website outlines the responsibilities of trustees and provides an overview of the role for those considering the role (see ‘an introduction to trusteeship’).

To find out more information you should visit the Pensions Regulator’s website at http://www.thepensionsregulator.gov.uk/trustees.

The Pensions Regulator’s Trustee Toolkit

The Trustee toolkit is a flexible e-learning programme, and is made up of 11 online modules. It helps new Trustees fulfil the knowledge and understanding requirements (required under the Pensions Act 2004), including; pensions and trust law, scheme investment, scheme funding and scheme documentation.

• One of the requirements of becoming a Trustee of the Scheme is to complete the training modules provided by The Pensions Regulator within six months, should you be appointed (we may ask you to provide a copy of your Toolkit development record to confirm this).
• To access the modules you will need to sign up and create an account for the Trustee toolkit at https://trusteetoolkit.thepensionsregulator.gov.uk/login/signup.php

The nomination process overview

In this nomination process the Trustee of the Scheme is seeking to fill one vacancy for a Member Nominated Trustee (‘MNT’) position.

Pensioner and deferred members (who are employed by the Company) are able to put themselves forward as a candidate for selection as an MNT.

• Nominees are required to complete the form below.
• Nominees will be invited to meet individually with a Selection Panel to discuss the role. The Selection Panel will choose between candidates if more than one appropriate candidate is identified, based on which candidate they deem to be the most suitable for the role.
• The Selection Panel will include two current Trustees.
• You will receive confirmation as to whether or not your nomination has been successful. The result will be announced in the next Scheme newsletter.

Forms to complete

As part of your application you will need to complete and submit the form below. This will be reviewed by the Selection Panel prior to your meeting.

Nominations are welcome from all individuals, irrespective of their individual differences which include (but are not limited to) gender and gender identity, ethnicity, culture, age, physical and mental health, sexual orientation, religion or belief, education, marital and civil partnership status and those with caring responsibilities.

Selection Panel meeting

If you are considered suitable for the MNT position you will be invited to meet with the Selection Panel. This will be an opportunity for the Selection Panel to understand your motivations and suitability for the role and also to discuss any questions you may have.

Returning your nomination forms and next steps

All completed forms need to be received by the Trustee by 31 December 2025.

The form can be returned to the address below if you are unable to complete it online. Alternatively you can scan the completed form and email to awhaite@booths.co.uk.