The Pensions Regulator

Member-nominated trustees and member-nominated directors

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Considering current arrangements for MNTs or MNDs

To identify if any of the current arrangements for MNTs and MNDs can be used in the arrangements trustees are putting in place or reviewing, trustees could use the three steps below:

• Identify what needs to be in their arrangements being put in place or reviewed (see Putting arrangements in place).
  
  Trustees may find it useful to produce a checklist of what their arrangements need to contain.
• Identify what is in their current arrangements;
• Compare and identify whether any of the current arrangements may be used or retained;
  
  Using the checklist in 1. above compare the current arrangements with what is needed.

By going through these steps, trustees will identify whether any parts of the current arrangements may be incorporated or retained into the arrangements they are putting in place or reviewing. Trustees may also have identified any gaps in their current arrangements which need to be addressed.

Although trustees may have identified gaps or parts of current arrangements that could be included, trustees still need to decide whether to incorporate those parts or put whole new arrangements in place.

For example, trustees may identify that the current arrangements met all the legal requirements but that they do not hold with the principles in the code of practice of proportionality, transparency and fairness.

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