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.
Eleven trustees currently manage OSPS:
- A chairman appointed by the Vice-Chancellor after consultation with the other trustees.
- 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.
- One MND elected by direct ballot of the pensioner members – this trustee must be a pensioner member and be nominated by the pensioner members.
- Five trustees appointed by the Council of the University.
The current trustees are as follows:
1. Mr Nick Sykes c/o Pensions Office
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 Lynette Cole Nuffield Dept of Population Health
Prof Gordon Clark School of Geography
Mr Jamie Clark Hertford 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.
Information on the various meetings held by the Trustee are found below.