The Essar Oil (UK) Pension Scheme is governed by a Trustee Board who is responsible for the Plan administration and for the investment of its assets. The Trustee board of the Essar Oil (UK) Pension Scheme operates as a Corporate Trustee with the Scheme's individual Trustees being Directors of a corporate body. Working in this way is an efficient way of operating and is in line with most workplace pension schemes.
The Trustees meet regularly throughout the year and receive specialist advice as required. This includes advice from investment advisers, auditors, solicitors and actuaries. Details of the Trustees and their advisers are given in the Annual Report and Accounts. A copy of the Annual Report and Accounts may be held in the Resources section of this website. If not, then you can obtain a copy from the Scheme Administrators via the details in the Contact us page of this website.
The Trustee and the Company agreed, when the Corporate Trustee was first set up, the board should be comprised of 50% Member Nominated Directors (MNDs) and 50% Company Nominated Directors (CNDs).
Pension Trustees
The Schemes Trustees look after the Scheme and have a number of responsibilities including making sure benefits are paid on time and to the right people, and making sure the right money is paid into the Scheme and is properly invested. The Trustees are also responsible for ensuring that the Scheme complies with all complex rules governing pensions. There are 6 Trustees of which 3 are Company appointed and 3 are Member Nominated.
Company Trustees
Independent Trustee Services Limited, represented by Janine Wood (Chair of Trustees)
Arvind Chopra
Michelle Bebbington
Member Trustees
Matthew Jessop
Craig Thomas
Andrew Roberts