Deadline extended! Apply to be a GDST Pension Scheme Trustee Director by 16 October

We recently let you know about the opportunity to join our Trustee Board as a Trustee Director, helping to oversee the GDST Defined Benefit Pension Scheme (The Scheme).

We’re pleased to share that the deadline to apply has been extended to Wednesday 16 October 2024, giving you even more time to get involved.

We’re looking for a new member to join our Trustee Board, which is responsible for overseeing the running of the Scheme. If you’re looking for a rewarding challenge, could this be you?

Being a Trustee Director is a fulfilling and diverse role that offers the chance to enhance your knowledge and expand your skills, which can be beneficial in any career or aspect of life.

We want our Trustee Board to be representative of the diverse members we have and we’re looking for a fresh voice to join us as a Trustee Director. Like us, you’ll be committed to acting in the best interests of our members.

Who can apply?

We’re inviting deferred and pensioner members to apply. There is one position available at the current time and the term of office is for three years.

How to apply

Simply complete the online nomination form.

Once nominations have been received, a panel will make the selection. The panel will comprise at least one of the current Trustee Directors and a representative of the Trustee Directors’ professional advisers. The intention is to hold the interviews in October.

The deadline for submitting your application is Wednesday 16 October 2024.

While we currently have one position to fill, we maintain a forward-thinking approach. We’ll carefully review all applicants and keep them in mind for future opportunities.

If you have any questions or would like to speak to someone about the role, please contact GDST@buck.com

What does a Trustee Director do?

A Trustee Director sits on the Trustee Board, which is responsible for overseeing the running of the Scheme and safeguarding it on behalf of its members.

Alongside the Scheme’s advisers and administrators, the Trustee Board makes sure that contributions are made to the Scheme, that its assets are carefully invested, and that members’ and beneficiaries’ benefits are paid correctly and on time.

To do this, a Trustee Director’s main duties are to ensure that:

• The Scheme is run in line with its rules and current pension legislation and regulations.
• Proper records for the Scheme are kept.
• The Scheme’s assets are invested appropriately and are held as securely as possible.
• Members are communicated with regularly and effectively about the benefits they are entitled to and about how the Scheme is run.

Trustee Directors are also required to act impartially, in good faith and in the interest of all members.

What support will you receive as a Trustee Director?

You don’t need to be a ready-made pensions expert – we’ll provide you with all the training you need.

If you’re employed by the GDST, you’ll also be able to take reasonable time off work to attend meetings and training.

What does a Trustee meeting involve?

A trustee meeting is where most of the Trustee Directors’ business is done. There we will take decisions on investment strategy, Scheme funding and member communications, fully supported by our advisory team. It is also where we monitor investment and administration performance, review our advisers, receive updates on pensions related legislation, and review and accept the Annual Trustee Report and Accounts.

Typically, there are three Trustee meetings a year – these normally last around three to four hours in a normal working day. A training afternoon and Trustee dinner will also follow one of the three meetings.

How can you find out more?

The Pensions Regulator has more information about the roles and responsibilities of trustees and trustee directors.

Who are the current Trustee Directors?

GDST Pension Trustees Limited is appointed as the Trustee for the Scheme. There are five Trustee Directors and GDST (as employer) has the option to appoint three Trustee Directors with members being able to nominate two Trustee Directors.

The Trustee Board currently is made up of the following:

Company Nominated Directors

• BESTrustees Limited*, represented by Rachel Brougham, Chair of the Trustee Directors
• David Boyd | Director of Legal and Risk Assurance at GDST
• Stuart Ross | Member of the GDST Council

Member Nominated Directors

• Alan Ford | Pensioner – GDST’s former Reward Specialist
• Vacancy - could this be you?

*BESTrustees Limited is a firm of independent professional pension trustees.