Trustee decision to extend current member-nominated Trustee directors’ terms to July 2027

You may be aware that the benefits in the Mid Kent Group Pension Scheme have now been secured with Just Retirement Limited (‘Just’). In addition, the Trustee purchased a bulk annuity policy with Just insuring all member benefits for the South East Water Pension Scheme in December 2024. Both projects were complex, requiring sufficient trustee knowledge to ensure decisions are made in the best interests of members. 

Becoming a Trustee Director carries significant duties and responsibilities. It is important that Trustee Directors have knowledge and understanding of pensions matters, as required under the regulations governing pension schemes, to facilitate appropriate and effective decision-making for the Schemes. 

Given this, the long-standing nature of the current trustee board, and the Schemes’ respective journeys over the next few years, the Trustee and Company have agreed to extend the terms of all current Member Nominated Trustee Directors whose terms were due to expire within the next two years. As such, both David Chung and Martin Giel’s terms will be extended beyond their current term end dates of 31 August 2025 and 31 August 2026, respectively to 31 July 2027.

We are always grateful to hear from our members and should you have any comments or queries regarding this decision, please contact Jo Stimpson by emailing [email protected].