Group Pension Trusteeship
The pension trustee is crucial in ensuring a pension scheme is well run.Trustees are responsible for the compliance and administration of the pension scheme. Although these duties are often delegated, ultimately the trustees are responsible for their pension scheme and must monitor their service providers. An independent, professional trustee will bring their knowledge and experience to bear on the scheme.
This knowledge and experience will contribute to the efficient running of the pension scheme and effective decision-making. All pension scheme trustees must receive training every two years (for a company, this means all its directors).
With Independent Trustee Limited acting as a trustee, training is not required for the company directors or any employees who would otherwise be trustees. The roles of the pension trustee, the employer and the scheme member differ and can have conflicting interests, particularly in areas such as the level of contributions, investment decisions and employee complaints. An independent trustee relieves the employer and member of any potential conflicts of interest and adds to the employees' confidence in the pension scheme.
The process of appointing us as the independent trustee to an occupational pension scheme is simple and straightforward. Contact us for more information.