There are twenty trustees – eight of which (including the Chair) are appointed, mostly by the Archbishops of Canterbury and York after consultation with other bodies. The remaining twelve are elected by various constituencies, including the members of the various pension schemes administered by the Board. The Chair of the Board is appointed by the Archbishops for a term of up to six years and is subject to confirmation by the General Synod.
The Board has five committees who oversee the operations of the Board; the Board setting the strategic direction of the organisation as well as carrying out those duties as a pension and/or charitable trustees that they are required to exercise by statute. Each one is chaired by a member of the Board; they also include co-opted individuals who complement the skills and expertise of the members appointed to serve on them.
Whilst it is a separate legal entity, it works within the framework of the National Church Institutions. There are 7 entities within the umbrella of the NCIs, the main ones being the Church Commissioners and the Archbishops’ Council, in addition to the Board.
The Pensions Board is a statutory corporation and subject to regulation by both the Pensions Regulator and the Charity Commission.