The ITB Pension Funds, consisting of the Open and Closed Funds, are set up under a Trust Deed and Rules and administered by a Board of Trustees.  The assets of the Funds are separate from those of its Participating Employers and are invested by independent investment managers who are appointed by the Trustees.  The Closed Fund has no Participating Employers paying contributions.

The Open Fund consists of Defined Benefit and Defined Contribution sections and provides pension and life assurance benefits for Members.

The Funds are in Wind-up - the Participating Employers, with agreement from the Trustee, commenced the formal process of winding-up the Open Fund on 30 January 2026. In addition, the Trustee also commenced the formal process of winding-up the Closed Fund on 30 January 2026. All members were sent a letter about this on 13 February 2026.