About the Trustees
The Trustees are responsible for managing the Fund. The Trustee Board is its own company — the Unilever UK Pension Fund Trustees Ltd — and it's completely separate from Unilever.
Meet the Trustees
Find out more about each of them in their Trustee profiles.
How the Board is structured
There are 11 Trustees on the Trustee Board, made up of:
- 1 independent professional Chair of Trustees, appointed by the other Trustees and Unilever
- 5 Trustees, appointed by Unilever
- 2 active member Trustees, nominated and elected by active members
- 1 deferred member Trustee, nominated by deferred members and selected by a panel of Trustees
- 2 pensioner Trustees, nominated and elected by pensioner members
How the Board works
The Board sets the Fund strategy. It meets every 3 months to review Fund business. The Board delegates some responsibilities to committees made up of smaller groups of Trustees. There are 4 committees, each responsible for managing a different aspect of the Fund's work.
Audit and Risk Committee (ARC)
The Audit and Risk committee manages the internal and external audit processes and oversees how the Board manages risk. It’s also responsible for administration and communication matters in the Defined Benefit (DB) and Defined Contribution (DC) sections of the Fund.
Investment and Funding Committee (IFC)
The Investment and Funding Committee is responsible for recommending an investment strategy for the DB section of the Fund, and for implementing this strategy once it’s agreed. It chooses the Fund’s investment managers and monitors their performance. The IFC also regularly reviews the Fund’s funding position.
Defined Contributions Committee (DCC)
The Defined Contributions Committee is responsible for matters relating to the DC section of the Fund. Part of its role is to check that the investing options in the Investing plan and the Additional Voluntary Contribution (AVC) arrangements are suitable for members.
Appeals and Discretions Committee (ADC)
The Appeals and Discretions Committee meets when it needs to exercise certain discretionary powers held by the Trustee Board - for example, when it’s not clear who should receive a member’s benefits when they die. The ADC is also responsible for handling issues or complaints.