Occupational Pensions Defence Union Limited

The Occupational Pensions Defence Union Limited (OPDU) provides insurance cover and risk management services to pension fund trustees, administrators and employers to protect pension schemes. It was launched in 1997, after a group of pensions managers and lawyers recognised that operators of occupational pensions schemes had an increased need for protection as demands were made for regulatory measures to safeguard the benefits of pension fund holders in the wake of the Maxwell scandal.

Initial meetings facilitated by the National Association of Pension Funds led to the formation of a Steering Committee established by Jonathan Bull, chaired by Alan Herbert. This Steering Committee worked with the insurance provider Thomas Miller and Company Limited to develop an insurance facility for pension schemes trustees and administrators. The Steering Committee was replaced with an Advisory Council of members in 1998. In 2011 over 750 pension schemes and £180 billion of pension fund assets were insured by OPDU, who also provides its members with advisory and claims services, and offers training in risk management for trustees. In July 2015 Jonathan Bull retired from OPDU.

Source of information includes: http://www.opdu.com/ [accessed 6 Jun 2011]