Your Trustees

The Fund is run by a Trustee Board. This is its own company — the Unilever UK Pension Fund Trustees Ltd — and is independent from Unilever.

The Trustees work with Unilever’s in-house investment team, independent professional advisers and the Fund administrator to carefully keep track of the Fund’s investments, liabilities and to make sure the right benefits are paid to the right people at the right time.

How the Board works

Audit and Risk Committee

The Audit and Risk Committee manages the internal and external audit processes and oversees how the Board manages risk. It’s also responsible for administration and communication matters in the Defined Benefit (DB) and Defined Contribution (DC) sections of the Fund.

Investment and Funding Committee

The Investment and Funding Committee is responsible for recommending and implementing an investment strategy for the DB section of the Fund. It chooses the Fund’s investment managers and monitors their performance. The committee also regularly reviews the Fund’s funding position.

Defined Contribution Committee

The Defined Contribution Committee is responsible for matters relating to the DC section of the Fund. Part of its role is to check that the investing options in the Investing Plan and the extra voluntary contribution arrangements are suitable for members.

Appeals and Discretions Committee

The Appeals and Discretions Committee meets when it needs to exercise certain discretionary powers held by the Trustee Board - for example, when it’s not clear who should receive a member’s benefits when they die. The committee is also responsible for handling issues or complaints.

The Board sets the Fund strategy, meeting every 3 months to review business. Within the Board there are 4 committees made up of smaller groups of Trustees. Each committee is responsible for managing a different aspect of the Fund's work.