British Airways (BA) has announced that it has appointed PSGS Trust Corporation Limited, replacing Roger Maynard as Chair of the APS Trustee.
Roger Maynard has chaired the APS Trustee since his appointment in October 2018. Roger has overseen several important milestones and innovations for APS during his tenure. Most notably, these included the successful settlement of the APS discretionary increases litigation, the delivery of a pioneering outsourced chief investment officer (OCIO) partnership with BlackRock, navigating the Scheme through the unprecedented circumstances caused by the COVID-19 pandemic, and the completion of the 2021 actuarial valuation.
Roger has been the model of an authentic leader, determined to deliver the highest standards for the benefit of the Scheme and the Scheme members. The Trustee Directors would like to express their gratitude for his significant contribution over the last 4½ years and their appreciation for Roger’s impact and influence in achieving the best outcomes for members.
PSGS Trust Corporation is an independent trustee and will be represented on the APS Trustee Board by its CEO, Wayne Phelan. Wayne brings with him a wealth of experience across a wide range of schemes, having started his career as a professional trustee 30 years ago. The APS Trustee Directors look forward to working with Wayne to continue to implement the Scheme’s strategy and deliver planned service enhancements to members.
From the Trustee of the Airways Pension Scheme
6 February 2023
About the APS Trustee
The Trustee is responsible for looking after the assets of the Scheme for the benefit of its members and is legally responsible for doing so. The APS Trustee operates separately from the employer that sponsors the pension scheme.
APS is administered by a Corporate Trustee (Airways Pension Scheme Trustee Ltd), made up of eight Trustee Directors. There are two types of trustee directors. Employer Nominated Directors (ENDs) are appointed by BA, and Member Nominated Directors (MNDs) are elected by members and pensioners.
The Trust Deed and Rules provide that, of the eight APS Management Trustees, four are appointed by the Members of the Scheme, and four are appointed by BA. The Trust Deed and Rules also provide for BA to nominate one of the Management Trustees to be the Chair of the Trustee.