09 Aug 2023 | General News
Are you what we’re looking for? If you’re not sure, don’t count yourself out – count yourself in!
We’re looking for all sorts of skills and attributes that will help run our pension schemes. Here’s your opportunity to be part of the bigger pensions picture at GE.Introducing the Trustee Talent Pool
We’re recruiting for new Trustee Talent Pool (TTP) members to join our wider Trustee team. The TTP works alongside the Trustee Board, whilst gaining valuable experience and taking part in discussions and decision-making in the same way our Trustees do. It’s important that we have a diverse mix of skills and backgrounds on the team, which is why every so often, we go out to the membership and invite people to put themselves forward to join us.
So, could YOU be our next TTP member?
To give you some insight into the role of the Trustee Board and the TTP, we asked two of our existing Trustee Directors to reflect on their own journeys and what they like most about being a Trustee Director.
Name: Matthew Nyampingidza
Role: Company Nominated Director
Joined: Trustee for 2 months, previously a member nominated TTP member for 17 months
Name: Martin Bath
Role: Member Nominated Trustee
Joined: 14 years, firstly as an Active Member and then as a Pensioner
Q: So first and foremost, what is the role of a Trustee and the Trustee Board?
MN: The role of the Trustee is to make sound investment decisions to ensure the pension schemes are able to meet their obligations to their members. The Trustee Board ensures the appropriate governance and execution of those obligations.
MB: Being a Trustee covers many aspects, from governance and investments, to paying benefits, maintaining accurate records and complying with pensions legislation. We engage specialist scheme administrators and legal and investment advisors to perform these functions, but oversight and definition of any strategies remains the responsibility of the Trustee Board.
Q: What sparked your interest in becoming a Trustee initially?
MN: I received an email asking for members to put themselves forward to the TTP. It was an opportunity to learn something new in a completely different space from my day-to-day responsibilities within the company.
MB: I wanted to work for the benefit of the members who were contributing to the Plan and relying on it for a part of their retirement income. And I also thought it would be interesting to meet and work with the other Trustees from other parts of GE with different perspectives.
Q: What do you enjoy most about being a Trustee?
MN: Interacting with different people from different backgrounds at different stages of their life and getting fresh perspective from their own experience. It’s been rewarding being able to in some way contribute to the financial security of current and former GE employees. I see GE as a family and any way I can support the financial goals of our family is satisfying.
MB: It’s different to anything else that I do. You get to meet and work with people from other parts of the company and with experts in the various aspects of pension plans, such as lawyers, investment advisors, cybersecurity consultants, administrators, fund managers, HR specialists and many other disciplines.
Q: And what have you gained most from your experience working with the pensions team?
MN: I have learnt a lot about how the members’ pension contributions are invested. Understanding the complexity with regard to different advisors and their role in supporting the Trustee Board was an eye opener when I was a TTP member in the Funding & Investment Committee. And overall, it’s given me great insight into how decisions made today will have an impact on how well funded the schemes are in the medium term.
MB: I was already interested in finance and investments, and this gave me more exposure to that field. I hadn't appreciated the complexity of running a successful pension plan, but it quickly became clear that it needed a lot of people with many differing skills, viewpoints and experiences to make it work. I have had the opportunity to sit on all of the various Committees during my time as a Trustee and that has been very valuable in growing my confidence and experience and helping me to understand what makes a successful scheme.
Q: What are you looking for in a prospective new TTP member?
MN: People who can bring fresh ideas on how the Trustee Board can best fulfil its obligations based on their own life experience and expertise. The more diverse the board, the better the likely outcomes of any decisions made. You have to meet the eligibility criteria too.
MB: People who are interested in acquiring new skills and new experiences. And anyone can apply. You really don't need to know anything about pensions to apply to be a TTP member. As long as you have some time to dedicate to the role, we want to hear from you.
Our doors are open!
The window to put yourself forward to join the TTP will open on Monday 21st August. Look out for an email in your inbox or leaflet in the post.
We’re also hosting some web chats throughout August and September, where you can speak to the current Trustees and ask any questions you may have. To book yourself into one of these sessions, go online at: mygepension.com/trusteetalentpool when the website opens for applications on Monday 21st August 2023.
