UK Power Networks Pension Scheme (UKPNPS)

The Trustee Board is responsible for the running of the Scheme. The Board comprises of:

Andrew Pace (Company Appointed and Chairman)
Karen Bridgman (Member Elected)
Jon Hornsey (Member Elected) (Reappointed from 1 January 2022)
Andrew Kluth (Company Appointed)
Kevin Pooley (Member Elected)
Ian Smyth (Company Appointed)
Nick Zentner (Company Appointed)

Member Elected Trustee Directors are usually elected for a term of four years but are able to stand for re-election.

The Scheme is required to make the following information available online:

The Scheme’s Statement of Investment Principles is a written statement governing decisions about investment for the Scheme.

The Scheme’s Implementation Statement outlines how, and the extent to which, the policies relating to stewardship, voting and engagement as outlined in the Statement of Investment Principles have been followed during the year.

This governance statement sets out how the Trustee has embraced statutory governance standards in the running of the Scheme’s defined contribution sections.

This statement is required under Regulation 23 of the Occupational Pension Schemes (Scheme Administration) Regulations 1996 for those sections of the Scheme which provide only money purchase benefits. The Trustee is therefore required to prepare this document in respect of the SEEBOARD Pension Investment Plan (PIP).

The Trustee recognises the importance of robust governance standards. As the investments for the London Electricity 1994 Retirement Plan (LERP) and the additional voluntary contributions are invested within the same funds, this statement also applies to these investments.