The Pensions Regulator

Member-nominated trustees and member-nominated directors

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Determining whether to run the nomination and selection process

Any nomination and selection process included in the arrangements trustees put in place must be run within a reasonable period of the need arising.

To determine if there is a vacancy trustees first need to determine how many MNTs or MNDs are required. Paragraphs 23 to 27 of the code of practice provide practical guidance on this.

Having identified the number of MNT or MND posts required, trustees should then review their existing arrangements to see how many MNTs or MNDs appointed under the Pensions Act 1995 are in post. These can count as MNTs or MNDs under the requirements. This will determine whether the scheme has any vacancies to be filled.

If all the vacancies are filled then there is no requirement to run the nomination and selection process put in place until a term of office expires, or an MNT leaves the post.

Example
Whether to run the nomination and selection process.

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