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.