Tuesday, 21 August 2007

MNTs block indie trustee appointment

Quite an interesting story involving Lord MacGregor!

British Energy trustee board shuns new appointee - EXCLUSIVE
by Chris Panteli 16-08-2007
TRUSTEES of the British Energy pension scheme have refused to work with a newly-appointed independent trustee and have reported the company to The Pensions Regulator.

Three elected members of the trustee board say they will walk out of their next meeting in protest against the “deceitful and disgraceful” way British Energy appointed Lord MacGregor of Pulham Market as independent trustee and chairman of the £2.4bn scheme.

They claim they were not consulted on the proposals to introduce an independent trustee and were only told after MacGregor’s appointment.

The trustees, who are backed by trade union Unite, have logged a formal complaint to the regulator calling for the watchdog to investigate the matter.

Unite national officer Dougie Rooney told PP: “We are not in any way challenging the principle that appointing an independent trustee is a good way to proceed; we are questioning why the company did it behind the trustees’ backs.
“It compromises the very nature of an independent trustee and displays a complete contempt for the elected trustees and scheme members.”

Unite has also questioned MacGregor’s credentials.

Rooney added: “We have tried not to personalise this but we have checked his professional track record and there is absolutely no evidence to suggest he has any qualifications to act as an independent trustee.”

A British Energy spokesman said: “Unite’s concerns lie around the process of appointment not the suitability of Lord MacGregor to carry out this role.”

“Lord MacGregor is currently a trustee of another pension scheme. He has extensive business and City experience.”

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