The BAA Pension Scheme has approximately £4 billion in assets and provides benefits for around 16,000 employees, former employees and their dependants. As a trust based arrangement it is managed by a Trustee - the BAA Pension Trust Company Limited.
The Trustee Board is made up of eight Directors and an Independent Trustee, currently Law Debenture.
The Independent Trustee has the power to veto any decision made by the Trustee that might affect the accrued benefits of beneficiaries.
In 2019 the Trustee and Company reviewed how best to represent members’ views on the Trustee Board. As a result the constituencies changed and now of the four MNDs, three are drawn from, and elected by, the Active members and one is drawn from and elected by the Pensioner members.