The Corporate Trustee

The Trustee arrangements for APS are as follows:

APS is administered by a Corporate Trustee (Airways Pension Scheme Trustee Ltd), made up of eight Trustee Directors.

  • Four of the Trustee Directors are appointed by British Airways as Employer Nominated Directors (ENDs).
  • Four Trustee Directors are elected by APS members and pensioners as Member Nominated Directors (MNDs).
  • Adult Survivors in receipt of a pension cannot seek election but are entitled to support a nomination and to vote in a ballot that relates to a pensioner vacancy or an active and pensioner combined vacancy.

An MND may remain in office for a minimum of five years and a maximum of five and a half years and is eligible for re-appointment (provided that he/she still meets the eligibility criteria for the relevant vacancy).

Nominations for the elected APS MNDs must be supported by at least ten members, pensioner members* or adult survivors in receipt of a pension in the relevant constituency. If there is more than one nomination for a vacancy, a ballot of the relevant members is held and the result is decided on a simple majority of the votes cast.

An elected MND may be removed from office following a ballot in which two-thirds of the votes cast by the members in the relevant constituency are in favour of removal. A ballot may be held on written request to the Trustee by fifty of the relevant members.

The APS Trustee Board meets six times a year. In addition to these regular meetings, the Trustee Board may establish sub-committees or ad-hoc committees, as required, so that a small number of Trustee Directors can give detailed consideration to defined issues.

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Scheme Actuary

Adam Boyes of Willis Towers Watson is the Actuary for APS. The actuary advises on the Scheme's ability to meet its commitments to members and on a range of financial matters, including what the Company needs to pay into the Scheme.

In addition, the following provide specialist advice and support:

Legal Advisers

Sacker & Partners LLP

Bankers

Bank of New York Mellon
External Custodian: State Street Bank & Trust Co

Scheme Auditors

KPMG LLP

Investment Consultants

Mercer Limited

Independent Investment Experts

Ian Craston

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