7th November 2018 Anne-Marie Winton comments in Pensions Expert on Imperial Brands looking to discontinue a consultative committee at its Imperial Tobacco Pension Fund
Imperial Brands is looking to discontinue a consultative committee at its Imperial Tobacco Pension Fund.
According to Imperial Brands, the benefits gained by holding the forum do not warrant the cost, workload and logistical efforts required to run the twice-yearly meeting.
The Pension Fund Consultative Committee’s main role is to act as a forum for stakeholders to discuss a variety of pension fund matters.
Anne-Marie Winton said that “committees can act as a helpful sounding board both for employer and trustees – giving a steer on the tone and contents of members communications, for example”.
She said committee members often have a wider geographical spread than on the trustee board, which can make it easier to ensure that members’ views are passed on, irrespective of their location.
However, Anne-Marie added that PCCs are not the trustee and have no formal decision-making role.
“Care needs to be taken to ensure that they operate within an appropriate terms of reference to make clear its purpose and function.”
Read Anne-Marie’s comments in Pensions Expert
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