Lifestyle Article - DB Master Trust appoint actuary as new Chair of Trustees

Citrus, the Defined Benefit (DB) master trust, has appointed Peter Thompson of Capital Cranfield as the plan’s Chair of Trustees.

 Peter is a qualified actuary with almost 15 years’ experience as a professional trustee. In his role as a professional trustee, Peter has dealt with a wide range of schemes including several with assets in excess of £1bn. He has also handled a Regulated Apportionment Arrangement, several buy-outs, a Company Voluntary Arrangement and many sets of employer negotiations and Regulator interactions.

 Peter has also been Chairman of the PLSA and Master of the Worshipful Company of Actuaries.

 Commenting on his new role as Chair of Trustees at Citrus, Peter Thompson says: “I’m very excited, and feel very privileged, to be joining Citrus at such an interesting time for DB master trusts. While master trusts for DB schemes are far from new, the benefits they can bring have never been more relevant. Many smaller employers with DB schemes struggle with their growing administrative responsibilities and governance requirements, and master trusts like Citrus are perfectly placed to help through their ability to reduce a scheme’s running costs and centralise the governance burden.”
 Lindsay Davies, Trustee Secretary at Citrus welcomes Peter, saying: “We’re thrilled to welcome Peter to Citrus. His wealth of experience as both a professional trustee and a pension professional means he is perfectly placed to lead Citrus at this pivotal time for DB pensions and those responsible for successfully delivering them.”

 Citrus is a long-established Defined Benefit master trust in which each employer has its own ring-fenced section. Created over 25 years ago by employers for employers, Citrus now has assets of over £300 million and over 4,000 members from a diverse range of employer sectors and lifecycle stages.

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