British Airways has announced that it has appointed Punter Southall Governance Services (PSGS) as the independent Trustee Chair for both APS and NAPS, replacing Roger Maynard, who has served as the APS chair since 2018 and the NAPS chair since 2020.
Roger leaves with both schemes in very good shape, having piloted both through some stormy times and significant changes. It’s a legacy of which Roger can rightly feel proud. On behalf of ABAP members, we thank Roger for his work and wish him all the best in his future endeavours.
PSGS will be represented on the Trustee Boards by its CEO, Wayne Phelan, who is a professional trustee with wide experience of pension schemes over a 30 year career.
With the increasing responsibilities and greater scrutiny from The Pension Regulator for all pension scheme trustees, the use of independent professional trustees is becoming more prevalent. APS & NAPS scheme members can be reassured that each board has Trustee Directors who come from, and represent, the interests of their member constituencies. As long as members are willing to come forward to stand as Trustee Directors, ABAP expects that to continue.
Regardless of where a Trustee Director is appointed from, they are still bound by their fiduciary duty and the rules of each scheme. While Trustee Directors need to be mindful of the health of the sponsoring employer, in our case BA (not IAG), their primary duty is always to the scheme and members.