The Amey Rail Section of the Railways Pension Scheme (RPS) has a Pensions Committee that is responsible for certain powers, duties and discretions delegated to it by the Trustee.
RPMI has invited TSSA to appoint a member to the Amey Rail Pensions Committee for a 4 year term of office. Nominations are therefore sought for this position.
Candidates must be TSSA members and also members of the Amey Rail section of the RPS, and must be nominated by two eligible members using the nomination form available via the TSSA website or on request from email@example.com.
Please note that Amey also operates the Owen Williams Section, which is a separate section of the RPS. Members of the Owen Williams section are not eligible for this committee vacancy, which is open to Amey Rail section RPS members only.
The role of a Pensions Committee member is a responsible one which has a specified range of duties and responsibilities as set out in the terms of the Pensions Trust and Section rules, and the Pensions Committee has been given responsibility to decide on investment policy. Such members are local trustees.
Training will be provided in accordance with legislation.
The main duties are:
- To act in accordance with the Trust Deed and Rules of the Scheme within the framework of the law;
- To act prudently, conscientiously and honestly with the utmost of good faith;
- To act in the best interests of all beneficiaries and strike a fair balance between the interests of different classes of beneficiary;
- To take advice on technical matters and other matters which the trustee does not understand.
Further information and details about support for trustees can be seen via the links below
Nominations will close at 2359 on Tuesday 4 January 2022.
Please note that nominations must be made using the official TSSA nomination forms supplied by email to members or available on request from Matt Barrow (firstname.lastname@example.org). Completed forms should be electronically scanned and sent by email to email@example.com
In the event that more than one nomination is received, a ballot of relevant TSSA members will be held.
TSSA members who are members of the AMEY RAIL section of the Railways Pension Scheme (RPS) are invited to nominate for the position of Member Appointee for the TSSA seat on the Amey Rail Section Pensions Committee.
The successful candidate will be entitled to paid release to attend these meetings.
Only members of the Amey Rail section are eligible for this position.
Committee meetings make decisions on investments, applications for certain pension benefits from individual members and overall management and administration of the scheme that is in the best interests of members and the pension scheme. On the reverse of this circular is a role description which provides more information on key responsibilities.
The Pension Administrators and TSSA offer a comprehensive training in which you will be entitled to paid release from duties to attend.
Successful candidates will be notified as soon as practicable after the closing date.
If we have more than one nominee, there will be a vote of TSSA members to decide who will take up this important role.
The role of a Pensions Committee Member appointee
The role of a Pensions Committee member is a responsible one which has a specified range of duties and responsibilities as set out in the terms of the Pensions Trust and Section rules and the Committee specifically has been given responsibility to decide on investment policy. Certain powers are delegated to the Pensions Committee by way of a Scheme of Delegation.
For all intents and purposes, Pensions Committee members are considered local trustees and accordingly have the responsibilities of a trustee. Training is provided in accordance with the provisions of the Pensions Act 1995 and Trustee Knowledge and Understanding (TKU) regulations. The main duties and powers of a Pension Scheme Trustee are:
- To act in accordance with the Trust Deed and Rules of the Scheme, within the framework of the law.
- To act prudently, conscientiously and honestly with the utmost of good faith.
- To act in the best interests of all beneficiaries and strike a fair balance between the interests of different classes of beneficiary.
- To take advice on technical matters and any other matters which the trustee does not understand.
This is a non-remunerative post (expenses incurred to attend meetings are reimbursed) but, as a Pensions Committee member you will have the opportunity to build up new areas of expertise, undergo training, gain recognised status and visibility and your involvement will provide a worthwhile service to your fellow Scheme members in helping to run and grow the Scheme.