The Corporate Trustee

27 June 2024: Changes to the Trustee Board

New Airways Pension Scheme Trustee (the NAPS Trustee) – Member Nominated Trustee Director (MND) Arrangements

Following a recent review of MND Arrangements, the NAPS Trustee agreed to change the appointment of three MND roles from election to selection. Effective from 1 October 2024 the following Employed Deferred and Employed Pensioner MND roles will be appointed by selection:

• Cabin Crew
• Ground Staff
• Pilots

The Scheme Trust Deed & Rules reflect these changes.

NAPS is managed by a Corporate Trustee (New Airways Pension Scheme Trustee Ltd), made up of twelve Trustee Directors.

• British Airways appoints six of the Trustee Directors as Employer Nominated Directors (ENDs).
• The NAPS membership currently elects two Trustee Directors as MNDs as follows:
• Two of the MNDs are elected by pensioner members* of the Scheme and must be pensioner members* of NAPS.
• A Selection Committee currently appoints four Trustee Directors as MNDs as follows:
• Three Employed Deferred and Employed Pensioner MNDs. Each will come from a different occupational group and must be employed deferred or employed pensioner members of NAPS.
• One pensioner MND.

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 NAPS MNDs must be supported by at least five members 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.

Nominations for the selected MND roles must be supported by at least five members in the relevant constituency. Appointments will be made at the discretion of a Selection Committee.

Employed pensioners who remain employed with BA are included in the Employed Deferred category and are not eligible to apply for any of the three pensioner MND positions until their employment with BA has ceased.

An 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.

* For this purpose 'pensioner members' does not include pensioners whose benefits have not yet come into payment, spouses, dependants or children in receipt of pensions and pensioners receiving only Equivalent Pension Benefits under the National Insurance Acts.