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Member-nominated trustees and member-nominated directors
Member-nominated trustees and member-nominated directors
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Opt-out
The Pensions Act 1995 first introduced requirements for MNTs and MNDs. Under the requirements in the Pensions Act 1995, the employer could 'opt-out' of the requirements and propose their own arrangements for choosing trustees, provided they obtain the members' approval of the arrangements. This is commonly known as an 'opt-out.Under the requirements for MNTs and MNDs in the Pensions Act 2004, employers can no longer opt-out and propose their own arrangements.
If you want to know more about the considerations for trustees of these schemes see Opt-out in place.
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| Related documents |
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| MNT/MND code of practice (PDF) |