The MND Nomination & Selection Process

The Plan has a wide membership (now mainly deferred and pensioners, with just a few active members) who are invited to put themselves forward for the position of Member Nominated Director (MND) on the Trustee Board.

There are two constituencies; former Lafarge Redland Pension Scheme (LRPS) members and Non-Lafarge Redland Pension Scheme (non LRPS) members.  There are two MNDs from each constituency.

All Plan members (active, pensioner or deferred) in the former Lafarge Redland and Non-Lafarge Redland constituencies are eligible to stand for selection, provided they are UK resident and have at least two years of pensionable service in the Plan.  Applications must be supported by two other Plan members (who also satisfy the same eligibility requirements and are in the same constituency as the member).

Information and training will be provided to help interested members to consider the role and to prepare for the next stage.

A Selection Panel will consider the applications and agree a shortlist to be interviewed for the role.  The Selection Panel will then interview the shortlisted candidates and decide which candidate is to be appointed as an MND.  The Selection Panel will be chosen by the Plan’s Trustee Board and will include existing MNDs as well as an independent adviser.

What does it take to be an MND

A Trustee Director must be prepared to attend at least four Trustee Board meetings each year, as well as attending one or two committees that may each meet two to four times a year. Other training events may also be organised. Reading and preparation for meetings will also add to the time commitment.

The duties of a Trustee Director include a range of responsibilities to monitor the administration of the Plan and communications to members, the exercise of discretionary powers and to ensure the assets of the Plan are invested and held securely.

Maintaining a high standard of Trustee Knowledge and Understanding (TKU) is key and, as well as training sessions provided at meetings, Trustee Directors are provided with information and updates and are required to complete the Pensions Regulator’s e-learning programme, The Trustee Toolkit: https://trusteetoolkit.thepensionsregulator.gov.uk/

In addition to knowledge about pensions and awareness of their duties as a Trustee Director, valuable skills are financial and investment experience; identification and management of risks; the ability to absorb a large amount of information; the ability to evaluate advice and to challenge advisers, the ability to make judgements and decisions, and the ability to work and communicate within a board and committee structure. 

An MND will usually have a four-year term of office.