The Trustee and accreditations

About us

The Trustee

The Master Trust is looked after by a trustee company, SEI Trustees Limited. The trustee company has a board of directors who look after the Scheme. Throughout this site we just refer to them as ‘the Trustee’.

By law, it’s the Trustee’s job to make sure that the Master Trust is run properly and in the best interests of the members. So, it makes sense that people on the Trustee board have lots of expertise and commitment. And, to prevent any conflict of interest, everyone on the board is independent from the employers using the Master Trust, the administrators of the Master Trust and other companies providing services to the Master Trust.

The Trustee looks after all aspects of the Master Trust and meets up during the year to ensure that the scheme is being run properly and by the rules, as well as considering how it can be improved.

Your SEI Master Trust Trustee board

The Trustee is a corporate trustee (SEI Trustees Limited) to which Trustee Directors are appointed. SEI Trustees Limited has been the Trustee of the SEI Master Trust since 2007, and the National Pension Trust since November 2023. We’re pleased to introduce the current Trustee Directors:

Allan Course – Chair of Trustees

Allan was a director of the Trustee from 2007 to 2011 and then re-joined in 2016. Allan is our Chair of Trustee. He also chairs the Trustee’s Discretions and Appeals Sub Committee.

Graduating in Mathematics and Physics, Allan then qualified as an actuary to work in the financial sector and now has 40 years’ direct pensions experience.

Allan is also a professional trustee representing Capital Cranfield. Before that he was a Partner at Watson Wyatt (now Willis Towers Watson), first responsible for their Defined Contribution Administration Business, then leading a team that provided specialist services to Boards of Pension Schemes, after which he decided to become a trustee himself.

Ian Davies

Ian was Chair of the previous Trustee of the National Pension Trust, and joined the current Trustee following the acquisition of the National Pension Trust in November 2023. He chairs the Trustee’s Risk and Operations Sub Committee. He represents Hudson Trustees Limited.

Ian is a Consultant at Eversheds-Sutherland where he spent his 40-year career as a pension lawyer. He retired as a partner in 2020 and became an owner director of Hudson Trustees Limited.

Ian has over 35 years' pension experience in the pensions industry and is a former member of the Association of Pension Lawyers, the Association of Member Directed Pension Schemes, as well as being a former Chairman of his local NAPF. He is a Trustee to several DB and DC pension schemes, including a number of master trusts.

Natalie Winterfrost

Natalie joined the Trustee in November 2022 representing the Law Debenture Pension Trust Corporation P.L.C. Natalie also chairs the Trustee’s Investment Sub Committee.

Natalie is a qualified actuary and a Chartered Financial Analyst Charter holder. The majority of her career has been investment focused, having worked in investment consultancy and asset management for over 25 years. She has sought to promote professionalism, ethics and trust within the pensions industry, and is a previous Board Member and Chair of the CFA Society, where she launched and chaired a CFA UK Pensions Expert Panel.

Natalie is also an ex-council member of Society of Pension Professionals, and Immediate Past Chair of its Investment Committee. She has helped large pension schemes address many complex investment issues, including environmental, social, and governance (ESG) and Task Force on Climate-related Financial Disclosures (TCFD).

Penny Green – Deputy Chair

Penny joined the Trustee in November 2021, having previously been a trustee director of the Atlas Master Trust Trustee from 2016. Penny represents BESTrustees. She is the Deputy Chair of the Trustee Board and sits on the Trustee’s Risk and Operations and Investment Sub Committees.

Penny has spent over 30 years in the pensions industry. She is a long-standing Trustee Executive of BESTrustees Limited and has held a number of appointments for a number of defined benefit and defined contribution schemes.

She was also the first female President of the Pensions Management Institute and has been actively involved in the industry, focusing on improving the member experience.

Simon Riviere

Simon joined the Trustee in 2016. He represents Vidett Trust Corporation Limited and sits on the Trustee’s Risk and Operations and Discretions and Appeals Sub Committees.

Simon started his pensions career in the investment team of a corporate trustee. He worked for a number of trustee firms and organisations including Grant Thornton, the Pensions Ombudsman, JLT, and Osborne Clarke, before joining Vidett.

Simon has acted as trustee, secretary to the trustees and consultant for a wide variety of DB and DC schemes. He has also held senior roles with other professional trustee firms. He is a DC governance specialist at Vidett.

Simon is an Accredited Professional Trustee (PTPMI), a Fellow of the Pensions Management Institute (FPMI) and holds the Award in Pension Trusteeship.

Accreditations

The SEI Master Trust is authorised by the Pensions Regulator (as all Master Trusts are required to be) and we're proud to say that we have achieved the Master Trust Framework Accreditation.