About

Your RWE Group Trustees

We regularly include details of the trustee board of the RWE Group of the ESPS in Pensions Plus and in the annual report, to keep our readers aware of changes in personnel and to remind newer members of the structure and role of the trustee board.

The trustee board consists of 12 people, all of whom are either current or former employees of the company and are scheme members. We are known as Group Trustees and are either appointed by the company or nominated by our fellow members.

The Group Trustees are responsible for holding, managing, and applying the Group’s investments for the benefit of the beneficiaries of the Group in accordance with the Rules of the Scheme. We are also responsible for the investment of the Group’s funds, for which training is made available. An appointed investment adviser assists us in selecting investment managers. Similarly, an Actuary assists in assessing the assets and liabilities and therefore the funding level of the Group.

We are also responsible for ensuring that the Group’s benefits are paid in a timely manner. This includes considering the appropriate recipient of discretionary benefits and requires us to make all reasonable efforts to obtain the information we deem necessary to enable us to consider the merits of each case before making a decision.

We have a duty in law to consider the interests of all members and their dependants. We are obliged to disregard any personal identification with any particular category of member and must not benefit one class of member or beneficiary at the expense of the others. Group Trustees need not be an expert in all or any aspect of pension schemes when exercising a discretion or otherwise applying the provisions of the Scheme. Although professional assistance and advice is available so that we may discharge all aspects of our duties, we remain responsible for all the decisions we make.