Verity Trustees Limited

Verity Trustees Limited (VTL) is the trustee of the defined benefit (DB) master trust.

Being a part of the master trust, on a standalone basis or as part of one of the multi-employer schemes, means that:

• your scheme and the member benefits in it are overseen by members of the VTL Trustee Board;
• services that support the scheme, such as administration, actuarial, and fiduciary management, are provided by us here at TPT.

Our ownership

One of the things that makes TPT different is that our business is wholly-owned by VTL, in its capacity as trustee of the master trust.  

The benefit of this arrangement is that TPT is, itself, owned by a pension scheme. This creates an alignment of interests and an understanding of the challenges that face the pension schemes we serve, as the industry and member needs evolve. 

Investment Oversight Committee

The Investment Oversight Committee oversees the performance of the Trustee’s delegated Fiduciary Investment Manager, TPT Investment Management Limited. 

Audit, Risk and Compliance Committee

The Committee addresses such matters as internal controls, compliance and the annual audit and the annual accounts of the Trusts.

Appeals & Discretions Committee

This Committee determines appeals to the Trustee at the second stage of the Internal Disputes Resolution Procedure and considers discretionary benefit payments.    

Remuneration & Appointments Committee

The Committee approves the total remuneration strategy for all Trustee Board and Committee members.

Funding Committee

The Committee makes scheme specific funding and investment decisions for TPT’s Defined Benefit (DB) pension schemes, and oversees the valuation process for all of the Trusts’ DB pension schemes. 

Member Services Committee 

The Committee oversees the services TPTRSL provides to members to provide input on the development of service enhancements and to agree on administration policy as required.