All Trustees in the MMT are independent and the board is fully non-affiliated. This means there are no Mercer representatives on the Trustee Board. This is fundamental to its design as the aim is to make sure that the Trustee board always acts in the interests of members.

The Trustees are appointed on a three-year rolling basis, with their contracts reviewed every year. Any conflicts of interest (including potential affiliations) are reviewed at least at every Trustee (and sub-committee) meeting, with any declarations being made in between these meetings if need be.

They have particular legal requirements, and their main duties are to:

• Make sure the MMT is run in line with the Trust Deed and Rules

• Supervise and monitor the administration of the MMT

• Take an active role in choosing and monitoring the investments available to members – though they’re not responsible for your investment choices

As the MMT is a Master Trust arrangement, there are no employer or member-nominated trustees. Mercer as founder is responsible for appointing the Trustees.