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The founding co-chair of the Association of Member Nominated Trustees, Janice Turner, will step down in April.
Turner made the announcement speaking at the association’s annual general meeting on Monday but said she will remain as co-chair until the annual election of officers at the committee meeting in April. She will remain as a member of the AMNT Management Committee, where she intends to focus on the future of trusteeship, the development of collective defined contribution, MNTs’ rights and stewardship.
“We have built an organisation that has a laser-like focus on protecting the interests of scheme members, whilst also campaigning for the vital issues of fairness and inclusion,” she said.
“Our position has not always been welcomed by government, regulators or the fund management industry as we have never shied away from telling truth to power, but I believe our passion, drive and conviction has been respected and has meant that the voice of the member has been clearly heard and listened to. Member-nominated trustees’ and members’ views are not the same as those of the industry, and it is absolutely vital for ordinary pension scheme members that member-nominated trustees continue to be heard,” she added.
The pensions industry is currently seeing a growing wave of sole trustee appointments that threaten the inclusion of the member voice. MNTs were introduced after the 1990s Maxwell scandal, to avoid the possibility that an employer might once again embezzle money from a pension fund backing retirement promises to members.
An editor of Bectu’s trade union journal in her day job, Turner has represented the interests of member-nominated trustees to government, MPs regulators, industry and the media since the AMNT was founded in 2010, first alongside the late David Weeks and currently with Maggie Rodger as co-chair.
As well as being a driving force in the foundation of the AMNT, Turner was instrumental to the creation of the Red Line Voting stewardship guidelines that challenge fund managers to accept pension trustees’ ESG voting policies in pooled funds. She was invited by Harvard University to speak at their international capital stewardship conference.
Turner was also behind the AMNT’s proposals on the future of trusteeship and has advocated for MNT training to include exam fees and time off work.
Former pensions minister Guy Opperman, during his time in office, called the AMNT an organisation that "punches above its weight".
How can the member voice in pensions be preserved?
