The Pensions Regulator

Member-nominated trustees and member-nominated directors

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MNTs or MNDs appointed under the Pensions Act 1995

Trustees of schemes which had MNTs or MNDs appointed under the Pensions Act 1995 in place on 5 April 2006 have additional considerations when putting arrangements in place for MNTs and MNDs under the Pensions Act 2004. You should note that MNTs or MNDs do not include member trustees appointed under the terms of an opt-out.

MNTs or MNDs in post
MNTs or MNDs appointed under the Pensions Act 1995 count as MNTs or MNDs under the Pensions Act 2004 requirements until their term of office expires.

This means that the trustees must still put arrangements in place within a reasonable period of 6 April 2006. However, trustees may not need to run any nomination and selection process that they put in place as part of their arrangements.

For more information on whether trustees need to run the nomination and selection process see Determining whether to run the nomination and selection process.

Considering current arrangements
Trustees may wish to review the arrangements under the opt-out and consider whether any of the current arrangements are still appropriate.

See Considering current arrangements for MNTs or MNDs.

See putting arrangements in place for more information on the considerations when considering, designing and building arrangements.

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