Services

I offer professional independent pension trustee services to trust based UK pension schemes/funds.

Pension trustees are charged with the administration of the trust’s governing documents and the handling and disposition of funds in trust. They have a duty to avoid acting negligently, which is defined as the conduct of a reasonably competent professional. They also have a fiduciary duty ie a legal obligation of one party to act in the best interest of another.

An independent pension trustee, broadly speaking, is someone who is not an employee of the sponsor, does not provide other services to either the sponsor or the scheme, is not a scheme beneficiary and is not closely linked to someone who is a scheme beneficiary. Independent trustees are therefore free from the conflicts of interest that can often affect lay trustees, whether appointed by management or elected by scheme members.

Over the past few years, the Pensions Regulator has encouraged organisations to appoint the services of independent pension trustees. This helps manage perceived or actual conflicts, ensures best practice and frees up internal resources. The Pensions Regulator also requires Trustees to challenge their advisers: actuaries, lawyers, investment advisers. This requirement can be aided by having relevant professional experience on the board which often matches or exceeds that of the adviser.

There is an increasing realisation amongst employers, trustees and members of the advantages of having a professional trustee acting alongside the lay trustees of a scheme. Appointing an Independent Pension Trustee can be an effective solution to managing your company pension scheme(s). Independence helps protect the interests of the members but it is not a panacea and a good independent trustee will always have regard to the requirements of the sponsoring business. As your professional independent trustee I will ensure:

  • All trustees have the required TKU (Trustee knowledge and understanding) to carry out their role as a trustee
  • Specialist knowledge within the trustee body;
  • Adequate internal controls to administer and manage your scheme.
  • Conflicts of interest are managed;
  • Good communication with members;
  • Appropriate and cost effective use of professional advisors;
  • Investment strategy is given sufficient time and attention;
  • Any changes to a scheme, if needed by legislation or other reason, are properly managed and implemented.

If you would like to discuss with me the possibility of appointing me as independent trustee to your scheme(s) then please contact me.