Your Trustee Board

The Compass Group Pension Plan is set up under a trust.  This ensures that the pension fund is controlled by a separate legal entity to Compass Group PLC and the assets of the scheme cannot be used by Compass Group PLC, or any of its subsidiaries or creditors.  The trustee is Compass Group Pension Trustee Company Limited.  This Trustee Company has two independent trustee directors, including the Chairman, Philip Whittome. 

The full Trustee Board is:

Philip Whittome (Chairman)*

Brendan Boucher

Wayne Bowen
Christopher Clayton*

Jane Dean

Jodi Lea
Peter O'Meara

* Philip Whittome and Christopher Clayton are independent trustees. They have no connection with Compass Group PLC or any of its subsidiaries other than as Directors of the Trustee Company. They were appointed to these roles by the Company under the terms of a consultancy agreement between Compass Group Holdings PLC and Capital Cranfield Pension Trustees Limited.

Wayne Bowen, Jane Dean and Peter O'Meara are all Member-Nominated Trustee Directors (MNTDs).  They hold office until 5 April 2024, at which time they will be eligible to stand for re-election, should they so wish.

Why do we have Trustees?

Compass’ pension arrangements are set up under an irrevocable trust. A trust is simply an arrangement under which a group of people, ‘the Trustees’, hold property, ‘the assets of the trust’, for the benefit of others, ‘the beneficiaries’. A trust creates rights, which are enforceable by third parties, and the Trustees are appointed to ensure the sound management of the schemes’ assets for the good of the beneficiaries.

Apart from the management of assets, there are two other equally important reasons for setting the scheme up under a trust:

1)     To legally separate the assets of the pension fund from the assets of the Company. They are therefore held in a separate legal capacity and are not available to the employer’s creditors. This creates a valuable protection for members and their dependants. It also allows assets to the invested to produce a return for the fund.

2)     To obtain Inland Revenue approval for the pension arrangement in order to qualify for valuable tax concessions, i.e:

  • Tax relief on employee and employer contributions;
  • Exemptions for employees from tax on the contributions paid by the Company (i.e. not treated as a ‘benefit in kind’); and
  • Exemption from tax on the fund’s investment income and capital gains, where applicable.

In each case, apart from the Trustee Directors who have been ‘Member Nominated’, Compass Group PLC has the power to appoint and remove Directors of the Trustee Company as necessary. However, it should be recognised that there are no Compass Group PLC main board directors on the board of the Trustee, although Mark White is the Group Company Secretary.

In broad terms, the Trustee Company has the following duties:

  • To hold the assets of the scheme for the benefit of the members and their dependants.
  • To act in accordance with the Trust Deed and Rules of the scheme, within the framework of the law.
  • To act in the best interest of the beneficiaries, and in doing so, must act impartially towards all the beneficiaries. This means that Trustees cannot favour one category of members at the expense of another.
  • To carry out the duties with reasonable care and good faith.
  • To obtain and consider proper expert advice in areas where Trustees lack that expertise. The Trustees should merely take guidance from the experts, the final decision is theirs.
  • To ensure that money owed to the scheme is paid to the scheme.
  • To keep proper accounts of the transactions and proceedings of the scheme and ensure that accounts are properly audited by a professionally qualified auditor. 

Member Nominated Trustee Directors

Individuals who meet the criteria can put themselves forward for nomination for the position of a Member-Nominated Trustee Director (MNTD) when vacancies arise.

MNTDs are elected for a set period of time, usually 4 years.

At the end of each period the existing Member Nominated Trustee Directors stand down and nominees are sought for these positions for the next four years.  Those Trustee Directors standing down may put themselves forward for re-nomination.

Those individuals wishing to stand as nominees will need to be proposed and seconded by two fellow members in support of their application.

Where more nominations are received then there are vacancies then elections will be held amongst the membership. 

Should an MNTD resign before the end of the period, or if a position remains unfilled, then invitations for nominations will be issued periodically.  In these instances a sub-committee of Trustees will determine the successful nominee rather than an election.  MNTDs chosen at these times will hold office until the end of the original MNTD cycle.


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