The Trustee is responsible for running the Plan and is supported by a secretariat team and a range of professional advisers. The Trustee board meets at least quarterly and receives reports from its Sub-Committees. The responsibilities of the Trustee are extensive.
The size of the assets and membership of the Plan requires considerable time and careful governance to ensure that member benefits are safeguarded.
The Plan Trustee is Hewlett Packard Enterprise UK Pension Trustee Limited. It has a Board of eight directors, five (including the Chairman) are appointed by the Company. The remaining three are nominated by the Plan members. The Current Directors are:
There are currently five Sub-Committees
(FCS) looks at the financial strength of the Company to assess its ability to continue to provide financial support to the Plan (also known as the strength of the Company’s covenant). It also makes recommendations to the main Trustee Board on matters relating to the funding of the Plan.
(TISC) is responsible for looking after investment matters.
Oversees administrative matters, including member communications and Trustee discretions.
Works with the Administration Team to ensure cash flow needs are met, enabling all pensions to be paid on time.
Supervises preparation of the Plan annual report and accounts and oversees operations of the external audit.