Member Nominated Trustee
A member nominated trustee is a trustee who has been nominated and elected by the active members of a fund or scheme. The nomination or election of such a trustee should not be subject to the approval of the sponsor or his agents. The Board of Trustees should consist of at least 1 member nominated trustee.
A trustee who has been nominated by a pensioner or deferred pensioner of a fund or scheme and elected by the deferred pensioners and pensioners is called a pensioner trustee. If there are 30 or more pensioners and deferred pensioners then the Board of Trustees should consist of at least 1 pensioner trustee.
A sponsor trustee is a trustee that has been nominated and elected by the employer or person who causes a fund or scheme to be established.