All Occupational Pension Funds are managed by a Board of Trustees. This group has the ultimate responsibility for managing the affairs of the Fund and must represent all interests that include all categories of membership and the sponsoring company. There are legal requirements governing the behaviour of Trustees with penalties for any action that substantially prejudices any interested party.
The Trustees of our Pension Fund are all Directors of Imperial Tobacco Pension Trustees Limited.
As such they are ultimately responsible for the management, investment and administration of our Fund. As with all other Funds the sponsoring company nominates employees, usually senior managers, to fulfil the role of Trustee. Some companies have allowed for the free election of member nominated Trustees or MNTs and our sponsoring company, Imperial Tobacco Limited is one such company.
The Directors of Imperial Tobacco Pension Trustees Limited currently in office are:
Mr Michael Tudor – Chairman – Company Nominated Trustee.
Mr David Arnold – Company Nominated Trustee
Mr Robin M Aspinall – Member Elected Trustee (Pensioner)
Mr John Buchanan – Company Nominated Trustee
Mr John Downing – Company Nominated Trustee
Mr Robert Dyrbus – Company Nominated Trustee
Mr George Rigley – Member Elected Trustee (Employee)
Mr Allan G Russell – Member Elected Trustee (Pensioner)
Elected Trustees serve a term of 3 years. The next election is in Nov./Dec. 2014 and the successful candidates will take up office in March 2015. With regard to the pensioner electorate any pensioner is eligible to stand for election providing the nominee is supported by eight pensioners’ signatures.
Approaching election times IMPAC’s National Council carefully consider the known candidates and declare support for the two candidates who, in their opinion, are most qualified to serve the impending three year term of office.
Given below are the details of the two re-elected Pensioner Elected Trustees who will hold office 2012 – 2015.
ROBIN MICHAEL ASPINALL
Robin Aspinall was the Imperial Group’s economist from 1976 to 1986, when he was made redundant following the Hanson takeover. His career then took him into the City as an economist and financial market strategist for stockbrokers, banks and fund managers, latterly as Chief Economist of the National Australia Bank (owners of Clydesdale Bank and Yorkshire Bank). Since 1999, he has acted as a consultant, providing advice to pension fund managers, writing and lecturing on financial market behaviour.
Robin is now semi retired and is a member of the London and South East Region Committee. He has been a pensioner-elected trustee since 2006 and a member of the Trustee’s Investment Committee since 2007. His priority is to protect the long-term financial security of our Fund. He is committed to protecting and promoting the interests of all members and ensuring that our Fund is managed in accordance with best practice.
Robin has proven Trustee experience since 2006 with ongoing working experience essential to understand the requirement for our Pension Fund to invest for the long-term security of our pensions. His Trustee track record and established reputation as a City adviser will ensure the interests of pensioners are represented knowledgeably and forcibly on the Trustee Board.
ALLAN GORDON RUSSELL
Allan Russell joined Wills, Glasgow in 1965 and has been an “Imperial Pensioner” since 1995. Over the last 40 years he has been actively involved in ‘Our Pension Fund’, serving as Employee and Pensioner representative on ITL’s Pension Fund Consultative Committee (PFCC). He serves on the Scottish Region Committee.
Allan has been elected and re-elected as a Pensioner/Deferred Trustee since 2001. These years as a Trustee have given him in-depth experience and extensive knowledge of our Fund including vital experience of reviewing the Fund’s Triennial Valuations, investment and the security of the fund’s assets, selecting and appointing professional advisors, the application and updating of the Fund’s Trust Deed & Rules, ensuring the Fund and its Administration comply with the Pension Acts and the Government’s never-ending flow of new pensions legislation and regulations.
Allan’s main commitment is always to ensure the security of our Fund for all pension fund members and their dependants whilst pursuing improved pension benefits.