Prudential Staff Pensions Limited, a limited company, is the Trustee of the Scheme and is responsible for ensuring that the Scheme is administered in accordance with the Trust Deed and Rules. The Trustee holds, manages and invests assets for the benefit of members and their beneficiaries.
The Trustee Board
The Trustee Board of Prudential Staff Pensions Limited (the Trustee) is made of up to ten Trustee Directors, six of whom are appointed by the Company and four who are nominated by the members.
The current Trustee Board members are:
Company appointed Trustee Directors
Keith Bedell-Pearce CBE (Chairman)
Member Nominated Trustee Directors
Wolfgang Bauer (To serve to 30 April 2027)
Stephen Cunningham (To serve until 17 April 2026)
John Paino (To serve until 16 July 2025)
William Rutherford (To serve until 11 April 2024)
The Scheme’s Committees
The Trustee delegates some of its day-to-day responsibilities for managing the Scheme to various Committees. Each Committee is made up of a subset of Trustee Directors and reports back to the Trustee Board with updates of their meetings, suggestions and recommendations.
Currently there are four Committees:
The DB Section Committee - Monitors the DB Section funding (including overseeing the DB Section investment management policy).
The Audit and Governance Committee - Reviews and assesses the risks to the Scheme and is responsible for producing the Scheme’s annual accounts.
The Disputes Committee - Considers any complaints received by the Trustee.
The DC Section Committee - Responsible for our administration services and the monitoring of investments in respect of the DC Section.
The DB Section Committee is assisted by the Funding and Factor Working Party and the Valuation Working Party when required. The DC Section Committee is assisted by the DC Section Investment Committee and Working Parties when required.
The Trustee's advisers
Robert Neil Wharmby FIA, Willis Towers Watson Limited
DB Section Administrator:
XPS Administration Ltd
Concert, A Gallagher Company
Mayer Brown International LLP
DB Section Investment Consultant:
Willis Towers Watson Limited