Trustees are required to ensure that arrangements are in place, and implemented, that provide for at least one-third of trustees, or at least one-third of directors of the trustee company, to be member-nominated.
Provided that some basic requirements are met, trustees will have the flexibility to design arrangements which best suit their scheme.
The following pages include information on the legal requirements or you can use the decision tree to identify the legal requirements for your scheme.
Trustees first need to establish whether the member-nominated trustee (MNT) or member-nominated director (MND) requirements apply to their scheme and when the MNT or MND requirements apply to their scheme. Trustees will need to then put arrangements in place.
There are some special provisions for schemes that had arrangements in place under the Pensions Act 1995 on 5 April 2006.
Do the MNT and MND requirements apply?
which requirements apply?
When do the MNT or MND requirements apply from?
The commencement date
Schemes that had arrangements in place under the Pensions Act 1995
schemes that had arrangements in place under the Pensions Act 1995
Putting arrangements in place
considering, designing and building arrangements
| Related documents |
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| MNT/MND code of practice (PDF) |