Three specialist committees meet regularly to focus on the main aspects of running the Mastertrust.
Running a pension scheme is a very complex business and so the trustees and representatives of Legal & General meet regularly to keep it under continual review.
And because there’s so much to discuss, the work is split between committees. Each committee provides focus and expert oversight on one of three areas that are essential to the successful management of the Mastertrust.
A representative of the trustees attends every committee meeting and formally reports back to the full board of trustees on what was discussed and the actions that were approved. This way, the board is kept fully up-to-date with each committee’s activities. The three committees are:
- dealing with complaints from members
- investigating potential beneficiaries in the event of a member’s death
- making beneficiary recommendations to the trustees.
- Operations Committee Terms of Reference
It has a regular schedule of formal meetings but also meets on an ad hoc basis to discuss specific cases as necessary.
- designing and maintaining member communications to standards set by the trustees and in partnership with any specific design requirements of participating employers.
- Member Communications Committee Terms of Reference