The Board of Trustees is the governing body for the Banki Kuu Pension Scheme 2012 and is responsible for the corporate governance of the Scheme. The Trustees have responsibility for ensuring that the administration of the Scheme is done in the best interest of Members and the Sponsor.

To achieve this, Trustees embrace their fiduciary responsibility by:

• Acting honestly and did not improperly use their access to inside information or their position;
• Exercising the degree of highest standard of care and diligence in the discharge of their duties that a reasonable person in a like position would exercise in these circumstances; and
• Performing their duties with the requisite degree of skill.

The Trustees ensure that the Investment Manager carries out all Scheme Investments and that all Scheme Assets and funds are held by the Custodian. Our Board of Trustees complies with the Board Charter of the Scheme.

The Board comprises six (6) members and has gender balance at 33% female and 67% male. The Board has a broad skills mix that includes financial, legal, training, insurance, investment analysis and risk management. The Board of Trustees held six (6) meetings during the year ended 30 June 2024. A brief summary of the Board of Trustees is as outlined below.