Trustees

OSPS Trustee Limited is the sole Trustee of the Scheme. The trustees on the board are collectively known as 'The Trustees'.

The Trustees have a responsibility to ensure that OSPS is run in accordance with the Trust Deed and Rules and they have various professional advisers to assist them with their duties. These advisers include auditors, actuaries, solicitors and investment managers.

Trustee appointments

Eleven trustees currently manage OSPS:

  1. A chairman appointed by the Vice-Chancellor after consultation with the other trustees.
  2. Four Member Nominated Directors (MNDs) elected by direct ballot of the active members – these must be nominated by the active members and can be four active members or three active members and one pensioner member.
  3. One MND elected by direct ballot of the pensioner members – this trustee must be a pensioner member and be nominated by the pensioner members.
  4. Five trustees appointed by the Council of the University.

The current trustees are as follows:

1.    Mr Nick Sykes                          c/o Pensions Office

2.    Mr Robert Langley                  Magdalen College

       Ms Lucille Savin                      Merton College

       Mr Kevin Valentine                 Chemistry

       Ms Kate Kele                             Estates Services

3.    Mr Leo Catney                          c/o Pensions Office

4.    Mr Charles Alexander             Merton College

       Ms Niamh McEntee                 Zoology

       Prof Gordon Clark                   School of Geography

       Mr William Jensen                   Exeter College

       Mr Nick Standen                      c/o Pensions Office

'Affiliated' Trustee Directors are individuals who are University or University subsidiary employees (or have been in the past five years) or who have received any payment or benefit from the University.  Other Trustee Directors are 'non-affiliated'Trustee Directors. 

It is necessary to have a majority of 'non-affiliated' Trustee Directors.  The University has agreed to ensure that four of the six Trustee Directors appointed by the University and Vice-Chancellor will be non-affiliated.  As a consequence at least two out of the five member nominated Trustee Directors (MNDs) should be non-affiliated.

Trustee meetings

Information on the various meetings held by the Trustee are found below.

The Trustee Board meets in full once a term on the Thursday of the week before 0th week and once after the end of Trinity term, but to carry out its business efficiently between meetings it delegates certain responsibilities to two sub-committees.

The GPC is responsible for deciding on discretionary benefits, including ill health retirements, beneficiaries of death in service and retirement lump sums, dependants' pensions and employer augmentations. It is also considers a wide range of matters to do with scheme administration, governance and communication. All decisions made by the GPC are reported to the main Trustee Board for ratification. The GPC usually meets on the second Tuesday of each month but can make decisions on straightforward discretionary benefits between meetings.

The IC is responsible for monitoring the application of the investing and funding principles, reviewing any associated documents, approving the terms of engagement of any investment adviser appointed by the Board and monitoring their effectiveness. All decisions made by the IC are reported to the main Trustee Board for ratification. The IC usually meets on the last Thursday of each month.

Anyone interested in finding out more about the role of trustees, then all of the current trustees and the Head of Pensions would welcome the opportunity to discuss this with them. The following document gives a summary of the duties and responsibilities of a trustee: OSPS Trustee (pdf)

pensions osps logo

Contact us


Pensions Office, 6 Worcester Street, Oxford, OX1 2BX

Secretary to the Trustee: (01865) 616164

osps@admin.ox.ac.uk

 
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