UK – The £17bn (€24.7bn) Royal Mail Pension Fund has appointed Law Debenture Pension Trust Corp. as a trustee, according to a report.

It’s the first time a corporate trustee operation been appointed as a trustee, the newsletter for BT and Post Officer pensioners said.

“We are always looking at the best ways of protecting the interests of our members,” Royal Mail Pensions Trustees chief executive Jerry Degaute was quoted as saying by Unite.

“With recent changes to the Pensions Act we used the opportunity to appoint new board members to introduce new skills and expertise.”

Robert Wilde has taken over as pensioner elected trustee from Mike Ferns.

Wilde, 55, was head of pensions finance at Royal Mail until he retired in 2004, the report said. He is currently chairman of the National Association of Pension Funds’ Yorkshire branch.

Royal Mail investment director Martin Gafsen has taken over from former CFO Marisa Cassoni.

In May last year pensioners in the fund voiced concerns about a possible closure or wind-up of the fund.

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