The Pensions Management Institute (PMI) is stepping up its efforts to increase the number of trained trustees working with defined contribution (DC) master trusts with an expanded training programme.
The institute’s Trustee Accelerator Programme (TAP) has this month welcomed 40 new trainees, more than tripling the intake compared to 2024, as the initiative expands beyond its original two-year pilot.
TAP was developed by Standard Life and the PMI to provide a route into trusteeship for people with little or no pensions experience. All trainees on the pilot completed their training in the spring and passed their PMI qualification exams.
The expanded programme is backed by Standard Life Master Trust, Scottish Widows Master Trust, Aviva Master Trust and LifeSight, WTW’s master trust. Trainees receive PMI training alongside one-to-one mentoring, trustee board shadowing, networking and access to the institute’s Trustee and Student Networks.
Gareth Tancred, chief executive officer at the PMI, said: “Selecting the next 40 trainees is a powerful moment for TAP and for the future of trusteeship. This cohort brings an extraordinary mix of backgrounds, perspectives and motivations – from those starting out in their careers to seasoned professionals changing direction.
“It’s exactly this diversity that will strengthen decision-making and improve outcomes for savers.”
The expansion comes as the government and regulators consider measures to raise standards across trusteeship, governance and administration, increasing the focus on the skills and experience available on pension scheme boards.
Among the new trainees is Thomas Joy, a senior content designer at Scottish Widows, who has spent a decade helping people engage with pensions. He said TAP would give him the opportunity to move from advising trustees to becoming one, while bringing experience of technology, design and AI into the boardroom.
TAP is designed to widen the pool of potential trustees by bringing in people from a broader range of professional and educational backgrounds, including those from outside financial services and pensions.
The PMI said the next phase of the programme would focus on expanding employer partnerships, increasing mentoring opportunities and strengthening progression routes into active trustee roles.
