MND election for NTL Pension Plan

A letter has recently been sent to all Plan members announcing an election for a position of Member Nominated Director (MND) of the NTL Pension Plan. These positions were formerly known as Member Nominated Trustees (MNTs) but following the change of the Trustee Board to a Corporate Trustee the name has changed. As the letter says, the role is the same but just working within a new governance and legal framework.

The position has arisen because Dick Buckle, the longest standing of the current MNDs, has come to the end of his elected term (which was also extended a bit to cover an actuarial valuation looking into possible buy out). We understand that Dick is willing to stand for re-election.

The letter seeks nominations from Plan members for this important role which is especially important as the Plan approaches the point where an insurance company buy out is being considered, although this seems to be less immediate that was once the case. Any Plan member (with limited exceptions) can nominate themself for the role which would be interesting but also very serious and quite time consuming, so anyone interested should give the matter careful thought. Assuming that there are multiple applications, an election process is expected to follow to select this MND.

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