Trusteeship has never been such a tough and time consuming task.
Alongside their “day jobs”, today’s Trustees need to be able to deal with a wide range of stakeholders and issues, including:
- Adopting appropriately prudent policies for pension scheme funding
- Compliance with The Pensions Regulator’s requirements on pension scheme governance, including Trustee Knowledge and Understanding
- Compliance with an increasingly complex body of pensions legislation
- Ensuring the quality and efficiency of the scheme’s administration and communications
- Identifying, minimising and managing the hundreds of different risks related to pension scheme management
- Identifying, managing and resolving conflicts of interest
- Management of multiple advisers
- Negotiation with the sponsoring employer and its advisers on contribution requirements, Recovery Plans and employer-initiated risk management initiatives
- Understanding the strength of the sponsoring employer’s covenant.
Trustee bodies are buckling under the sheer weight of their collective duties and responsibilities.
Actuaries, by virtue of their in-depth knowledge of all aspects of pensions, are ideally equipped to be professional trustees.
Triangle Pensions acts as a professional, independent Trustee alongside existing Trustee bodies. In doing so, we provide reassurance to both Trustees and members that their scheme is being managed in accordance with industry “best practice”. We bring over 20 years of experience of working with Trustee bodies.
In addition to acting as an independent Trustee, Triangle Pensions can also:
- act as Scheme Secretary,
- form part of Trustee sub-committees, and
- play the important role of Chair of Trustees.