Tax in retirement

Who can nominate themselves as a MND?

You can nominate yourself for the role of MND if you’re an active, deferred or pensioner member of the Veolia UK Pension Plan or the Veolia Energy Pension Scheme (the Schemes).

The Trustee is committed to encouraging equality, diversity and inclusion and would like to be truly representative of our members. The Trustee believes a diverse Board will often make better decisions. This will be taken into account during the selection process. If you want to nominate yourself you should reasonably expect to remain in one of the above categories for at least three years due to the term of the MND role and the training and commitment required.

Is anyone excluded from becoming a MND?

You can’t become a MND if:

• you have an unspent conviction involving dishonesty or deception; or
• you’ve been previously made bankrupt and the bankruptcy has not been discharged; or
• you’re currently disqualified from being a company director.

What will I do as a MND?

• You’ll help manage the Veolia Pension Schemes, acting prudently, responsibly and impartially and always in the best interest of members. You might be involved in member communications, legal matters, investment decisions and the Scheme’s finances.
• Full training will be provided so you can gain knowledge and understanding of trustee duties, pensions law, investments and how the Schemes work.
• Your training will include completion of The Pensions Regulator’s Trustee Toolkit within six months of being appointed - this will give you the skills and knowledge you need to complete your role as a MND. You can find out more at www.trusteetoolkit.com
• Within 18 months of becoming a MND you should also have completed The Pension Management Institute Award in Trusteeship.

You’ll attend four Trustee meetings in London each year and any additional ad-hoc meetings that arise. Expenses are covered. Meeting papers are viewed online and some meetings may be held remotely, so you’ll need access to a reliable internet connection and be comfortable using IT software. If you don’t work for Veolia we’ll provide a Veolia email address.

How long is a MND appointed for?

The period of office for a MND is initially three years. The Board may, at its discretion, extend this for a further three years if the MND agrees. The MND’s appointment could be terminated early by:

• Resignation from notice;
• Removal by agreement of all the other Trustee Directors.

Do MNDs have help?

Although the duties of a MND are significant, the Schemes have lots of expert advisers (such as actuaries, investment consultants and lawyers) to support them, as well as the internal team at Veolia.