All Occupational Pension Funds are managed by a Board of Trustees. This Board has the ultimate responsibility for managing the affairs of the Fund and must represent all interests that include all categories of membership and the sponsoring company. There are legal requirements governing the Trustees who must take suitable professional advice or run the risk of penalties for any action that substantially prejudices any interested party. Trustee Boards are bound by their own Articles of Association and overseen by the Pensions Regulator.
The Trustees of our Pension Fund are all Directors of Imperial Tobacco Pension Trustees Limited. As such they are ultimately responsible for the management, investment and administration of our Fund. As with all other funds the sponsoring company nominates employees, usually senior managers, to fulfil the role of Trustee. Some Trustee Boards include Directors from the pensioner/deferred pensioner and employee groups. Since 1992 our Trustee Board has included two Pensioner Member Nominated Trustees (MNTs) and one Employee MNT. Between 1991 and 2014 these were elected by the appropriate fund group membership. However, since 2014 the board have adopted a selection process for the appointment of all future MNTs.
The Directors of Imperial Tobacco Pension Trustees Limited currently in office are:
Helen Clatworthy – Chair
Phil Hughes – Secretary to the Trustee board
David Fripp – Company Nominated Trustee
Nick Welby – Company Nominated Trustee
Tom Tildesley – Company Nominated Trustee
Darren Lees – Company Nominated Trustee
Julian Banks – Member Nominated Trustee (Pensioner)
Ken Hill – Member Nominated Trustee (Pensioner)
Sam Miller – Member Nominated Trustee (Employee)
Member Nominated Trustees (MNTs) serve a term of 4 years.
Overseas fund members are excluded from the MNT nomination process.