Governance

The Trustees collectively represent an invaluable breadth of experience. Two new Trustees have been appointed, and two Trustees have completed their service to the Board.

Governance Policies

In keeping with the Board of Trustees' commitment to accountability and transparency, the Trustees use a number of policies to govern the Plan:

  • Code of Conduct
  • Conflict of Interest
  • Plan Member Privacy Policy
  • Trustee Terms of Reference
  • Trustee Turnover Policy
  • Role Description for the Board Chair
  • Confidentiality Policy
  • Education Policy

To view more information on these policies visit www.nsps-ltd.com, the "About Us" section of the website.

Board Committees

The Finance Committee is comprised of two Trustees and the Chair as ex officio. This committee is appointed annually and has separate terms of reference affirmed annually by the Board of Trustees.

In 2008, the Board of Trustees created an Audit Committee comprised of three Trustees who are appointed every second year. The separate terms of reference are affirmed on an annual basis.

Statement of Investment Policy and Procedures

The Trustees review the Statement of Investment Policy and Procedures (SIP&P) annually. With an emphasis on its effectiveness as an active governance monitoring tool, the Investment Manager is required to supply a completed Compliance Summary quarterly. The Compliance Summary forms an appendix to the SIP&P. Additionally, the Investment Manager provides the LTD Plan with a semi-annual Proxy Report.

Board Meetings

The Board met through the year around the following key items:

  • Review of Plan Design
  • Implementation of Plan Changes
  • An analysis of future trends impacting the Plan's operations over the next three to five years

A meeting evaluation is completed at the end of each Board meeting.