At a time when sponsors of defined benefit pension schemes are facing enormous challenges, we at Trustee Decisions can help relieve the pressure. Our independent and professional trustee services will be of great benefit to you.
We understand the issues, whether it be deficits increasing as a result of investment underperformance and improved longevity, the weakening of employer covenants or the requirement for trustees to have a minimum level of pensions knowledge and understanding. These issues combined with a complex and ever-changing legislative environment mean that trustees are under constant pressure to improve governance and internal controls. The threat of personal liability when things go wrong has become a real concern for trustees and made them question the need for professional independent trustee services.
The appointment of a professional independent trustee such as Trustee Decisions can be invaluable. We currently act as trustees to defined benefit pension schemes of all shapes and sizes and can help by:
- Ensuring the scheme’s compliance with legislation and the Pensions Authority’s Code of Practice in a cost-effective way
- Overseeing the funding and investment strategy of the scheme
- Working closely with the scheme advisors and challenging them as necessary
- Assisting with the review, appointment and monitoring of the scheme advisors and Key Function Holders
- Improving the level of knowledge and understanding of the trustee board
- Managing conflicts of interest and improving trustee decision making
- Working closely with the Key Function Holders for Risk Management and Internal Audit to ensure both compliance and value for money
- Encouraging employer and member confidence through our experience and impartiality