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A B C D E F G H I J K L M N O P R S T V W Y

Pension Scheme Trustees

Pension Scheme Trustees

Trustees of final salary-type schemes have difficult jobs.  The pensions environment becomes ever more complicated, and the pace of regulatory change has not slowed.  Trustees must understand their scheme and have a working knowledge of wider pensions regulations and requirements.

They must act in the best interests of scheme members, including ensuring that benefits are paid in full as they fall due.  But trustees also need to understand the employer’s position and try to work collaboratively, particularly on funding issues.  Failing to fulfil fiduciary duties exposes trustees to legal challenges.

Trustees need advice to help them make good decisions.  We can guide them through legal and regulatory requirements, on day-to-day issues and key projects.  We also understand the potential for conflict between trustees and employer, and can guide trustees towards solutions that support the scheme without putting unnecessary strain on the employer.

Trustees of money purchase schemes also need advice.  Although they don’t have to deal with funding issues to the same extent, they face issues including governance, data management, and ensuring the scheme provides value for its members.  The Pensions Regulator is increasingly focusing on money purchase schemes, expecting trustees to assess their scheme against its code of practice and guidance. We advise trustees of these schemes on all of the issues that arise.

Useful Downloads

Pensions Leaflet