The Cabinet Office is delighted to offer a Public Appointment opportunity for the Chair of the Royal Mail Statutory Pension Scheme (RMSPS) Governance Group. The Cabinet Office is committed to increasing diversity on its independent pension scheme governance boards. This is viewed as a key enabler to better understanding the scheme members we serve, resolving future challenges and driving further improvements to the schemes and member outcomes. This high profile role becomes available as the current Chair’s tenure ends in December 2021. The Governance Group is an independent advisory group that assists the Cabinet Office, as Scheme Manager, and has interest in the scheme’s administration, scheme communications and members’ feedback. The Governance Group looks at pension scheme matters for former Royal Mail Group and Post Office Ltd workers.
If you do not match all of the criteria listed in the person specification but feel you would be right for this role we would love to hear from you. Please explain the value you would add in your application. The Governance Group needs a forward thinking Chair who can play a vital role in bringing an independent, inclusive and practical approach to the Group.
To see the full candidate pack and how to apply visit https://publicappointments.cabinetoffice.gov.uk/appointment/chair-of-royal-mail-statutory-pension-scheme-governance-group/
The Royal Mail Statutory pension scheme (RMSPS) is responsible for the pension benefits of Royal Mail Group and Post Office Limited members that were built up to 31 March 2012. There are approximately 375,000 members in the scheme, made up of pensioner, deferred and joint members. Joint members are those RMSPS deferred members who were also still active members of the Royal Mail Pension Plan (RMPP) as at 31 March 2012 and therefore continued to accrue benefits in the RMPP from 1 April 2012. Main features of the RMSPS are that:
- It is an unfunded, defined benefit scheme and the scheme rules mirror and interact with the RMPP.
- The Scheme is closed to new members and to future accrual, consequently there are no employer or employee contributions.
- The Governance Group has an important role to play in supporting the Scheme Manager with the successful management of the scheme.
In particular, the Chair will:
- Represent the best interests of scheme members, employers and the taxpayer in order to assist the Scheme Manager in ensuring that the Royal Mail Statutory Pension Scheme is effectively administered and complies with relevant laws and regulations.
- Offer advice and intelligent challenge and input to any scheme manager proposals.
- Actively prepare for and lead the Governance Group meetings, act collaboratively and direct meetings as appropriate.
- Act in accordance with the seven principles of public life and relevant laws and regulations.
- Balance the views and needs of the scheme stakeholders and the scheme members.
- Provide the necessary commitment and time to the role needed to achieve success, identify own training needs and undertake training as required.
- Satisfy themselves that financial probity, adequate quality controls and systems for risk management and governance are in place.
- Understand the roles and responsibilities of the Governance Group and how it fits with other scheme governance arrangements and act accordingly.
- At all times, ensure that the scheme members’ interest lies at the heart of what the Governance Group does.
The Cabinet Office welcomes applications from candidates from all backgrounds. All candidates must demonstrate, in their CV and supporting letter, how they meet the following criteria, and offer a commitment to The 7 principles of public life;
- Experience in operating at Board level or equivalent in the public or private sector (or both) preferably in a non-executive pension/reward scheme capacity.
- Excellent communication and interpersonal skills – capability to manage stakeholder relationships in a collaborative way to effectively champion diversity and difference maintaining successful particularly where differing or conflicting views arise;
- Professional Pension Trustee or similar governance experience;
- Ability to analyse complex information, understand options presented, assist others to understand issues and differing views provide constructive feedback, seek clarity as required.
Additionally, the following experience would be considered an asset to your application.
- Experience of the pension administration industry and the challenges facing pension schemes would be an advantage.
- The capacity to bring a fresh, external view and independence of judgment with the ability to lead and negotiate and an understanding of how government works.
It is unlikely that any one individual will be experienced in all of these areas.
For this post, a person cannot be appointed as a Governance Group Member if he or she is employed in the civil service of the state (at the date of the taking up appointment), has unspent criminal convictions, is subject to bankruptcy, or disqualification as a company director. There must be no employment restrictions, or limit on your permitted stay in the UK.
Eligibility for the Guaranteed Interview Scheme will be determined against evidence of the desirable criteria.
Appropriate due diligence checks will be carried out.
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