Ailsa’s story

Here’s a chance to hear first-hand about the TTP from one of our Trustee Directors, Ailsa Beaton.

Why I applied

When I saw an invitation from the GE Pension Trustees Ltd to apply to become a Member Nominated Director (MND) it grabbed my attention as I already had some experience of being a Trustee for a charitable foundation. As part of that role, I am on their Investment Committee – which when starting out was a completely new experience for me. The complexity of balancing risks and returns, taking advice from professionals but ultimately being responsible for decisions, really taxed the grey cells.

So, this opportunity sounded great as it would provide me with a chance to develop my skills and experience further whilst learning about the world of pensions. It was particularly attractive that there was a chance to join the Trustee Talent Pool (TTP) which I would liken to being an apprentice ­– a real role but a chance to learn at the same time.

The invitation gave a link to a recruitment website which gave details of the scheme and the responsibilities of the Trustee Board but more importantly provided real inspiration to submit an application. There seemed to be real interest in broadening the experience and diversity of the Board, not just picking a set of already known usual suspects.

Applying for the role

The application process was interesting - not the usual CV and covering letter, more of an online quiz. The invitation to interview set off a flurry of activity and I am grateful that GE and the Pension Trustees publish lots of detail online and that The Pensions Regulator (TPR) has such an extensive website. It meant that I had a good understanding of what I was letting myself in for and gave me enough background information to prepare myself for the interview. It was my first virtual one which was a new experience and whilst the questions were challenging, it was well organised and everyone was friendly.

What you can expect

I worked for GE several decades ago and it is one of a number of pension schemes to which I have contributed. Having now retired from full time work I have been through the experience of taking these pensions: dealing with the administrators; filling in the requisite forms; choosing the right balance between lump sum and income etc so I am not a complete pension novice. However, as I subsequently discovered once the offer to join the TTP was made to me, the world of pensions is heavily regulated in the UK after various scandals and this experience of mine only scratched the surface. My first port of call was The Pensions Regulator’s website where there is a comprehensive training course for new trustees. There are a number of modules to be worked through, each with a quiz at the end. The GE Pension Trustees have a comprehensive induction programme so taken together it has been a steep learning curve but one that has been relatively easy to climb. There is also an on-going development programme for trustees that is put together by the scheme administrators.

What’s next for me?

I was a bit surprised to be invited after only a few months to graduate from the TTP and become a fully-fledged Trustee after a vacancy arose unexpectedly. This temporary appointment gave me the chance to demonstrate I was up to the job before the next round of recruitment when I applied to become a permanent Trustee.

I thoroughly recommend giving it a go. Lots of interesting things to learn and a great team coupled with the feeling of contributing to an important part of the lives of others.