The role

Who are the Trustee Directors?

The Scheme is managed by a Trustee Board comprising of six Trustee Directors. Two of these are member-nominated – also known as Member Nominated Trustee Directors (MNTDs). A further three Trustee Directors are appointed by Heidelberg Materials, and the sixth Trustee Director is an Independent Trustee who also currently serves as Chair of the Board.

What’s involved in the role?

Being a Trustee Director can be both enjoyable and rewarding. You’ll work as part of a team that’s dedicated to acting in the best interests of the members. It’s a great opportunity to get insight into how the Scheme works, learn from expert advisers and ultimately make a meaningful difference for members and their families.

As a member of the Trustee Board, you’ll help set the direction for the Scheme and take on important responsibilities. These include ensuring that the Scheme is run in accordance with its governing documents and relevant legislation, overseeing the investment of assets and deciding where discretionary death benefits should be paid.

Trustee Directors are supported in their role by external advisers, such as investment consultants and managers, the Scheme actuary, lawyers, covenant advisers, auditors, and the Scheme administrators.

Some of the responsibilities of an MNTD include:

• Acting with due care and honesty to safeguard the security of the Scheme’s assets.
• Keeping up to date with pensions legislation which might affect the Scheme.
• Appointing the Scheme’s professional advisers and monitoring their performance.
• Reviewing investment strategy and monitoring the performance of the Scheme’s investments as well as maintaining and complying with the Statements of Investment Principles.
• Maintaining statements of funding principles, agreeing employer contribution rates with Heidelberg Materials and ensuring contributions from members and Heidelberg Materials are paid accurately and promptly.
• Signing off the Annual Report and Accounts of the Scheme.
• Overseeing, in conjunction with Heidelberg Materials, amendments to the Trust Deed and Rules.
• Maintaining the Scheme’s dispute resolution procedures.

Knowledge and experience requirements

You don’t need to be a financial or pensions expert to become an MNTD. We want the Board to truly represent our membership and to include Trustee Directors with a wide range of knowledge, backgrounds and experience.

We’re looking for candidates who will bring a fresh perspective to how we think and act. It’s as much about what you can bring to the role, as what it will do for you.

Successful Trustee Directors are individuals who:

• Work well in a team and enjoy building relationships.
• Are open, fair and honest.
• Are enthusiastic and willing to commit the time required to the role.
• Offer a fresh perspective, can think creatively and join in discussions.
• Are discreet and relied upon to treat any matters with confidentiality.
• Are sympathetic to others’ views, but willing to query and challenge advice if necessary.

MNTDs are expected to have basic IT skills and to be contactable by email. They should be able and willing to attend Trustee Board and sub-committee meetings which are usually held in central London or online via Teams. They should also be able and willing to assimilate a large amount of often complex information.

What commitment would we need from you?

MNTDs usually serve for a term of four years.

You’ll have to commit a certain amount of time to undertake training, prepare for and attend meetings and address matters that arise on an ad hoc basis.

Formal meetings are usually held quarterly, but additional meetings may be scheduled if there is special business to discuss. An MNTD is likely to be asked to sit on one or more of the sub-committees which also meet several times a year and are typically held online.

MNTDs are required by law to acquire sufficient knowledge and understanding of pensions issues to carry out their role effectively. The free online ‘Trustee toolkit’ learning programme from The Pensions Regulator (TPR) is highly recommended to help them achieve this. Appropriate training before and during their term of office will be made available.

TPR has guidance for being a trustee at www.thepensionsregulator.gov.uk/en/document-library/regulatory-guidance/trustee-guidance