All Professional trustees articles – Page 13
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PodcastsPodcast: The days of ‘amateurish’ trusteeship are over
Podcast: The challenges posed by Covid-19 will accelerate the move toward professional trusteeship, according to Mercer’s chief actuary Charles Cowling, who argues that the responsibilities in this area post-coronavirus will be too much for lay trustees to handle alone. He and Catherine McFadyen, head of public sector actuarial, benefits and governance at Hymans Robertson, discuss LGPS funding, the impact of mortality rates, and give their predictions about the post-crisis world.
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News
First trustee passes professional accreditation standard
On the go: The accreditation system put in place for professional trustees has seen its first candidate pass through the process, as qualification providers eye online migration of examination processes.
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NewsBA trustees disembark as destination comes into view
A British Airways defined benefit scheme is shrinking its trustee board size, due to decreased workload after a buy-in and successfully weathering the Covid-19 funding storm.
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Features
Scottish Widows hires former regulator as master trust chair
Andrew Warwick-Thompson has been at centre of the pensions industry since 1986, in a variety of top jobs including leading roles at the Pensions Regulator and in the Local Government Pension Scheme, and now clutching his first non-executive role as chair of the Scottish Widows Master Trust.
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News
Aon’s merger with Willis Towers Watson to create $80bn giant
Aon and Willis Towers Watson have agreed on a merger, which will see the companies creating the UK’s largest pensions consulting firm and a worldwide insurance broker worth $80bn (£61bn).
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PodcastsPodcast: Regulator should take ‘softly-softly’ approach to DC consolidation
Podcast: The Pensions Regulator should take a “softly-softly” approach to defined contribution consolidation, similar to what happened with master trusts during the authorisation process, where subtle conversations occurred and schemes decided to exit in an orderly manner, according to Adrian Boulding, director of policy at Now Pensions. He and Rosalind Connor, partner at Arc Pensions Law, discuss the response from the watchdog to its consultation of the future of trusteeship and governance, among other topics.
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News
PMI launches accreditation course for professional trustees
On the go: The Pensions Management Institute has launched its course for professional trustees seeking accreditation, after an apparent split with the Association of Professional Pension Trustees.
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News
TPR to test trustees’ knowledge in bid to improve governance
The Pensions Regulator plans to conduct checks on trustees’ knowledge to assure governance standards in the industry, and has promised to consider appropriate action where they fall below expectations.
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News
Regulator outlines Q1 policy plans
On the go: The Pensions Regulator is to publish recommendations on trustee diversity and governance in February, as the watchdog set out its policy commitments for the early months of 2020.
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OpinionFix democratic deficit before mandating professional trustees
If the Pensions Regulator really wants a professional trustee on every board, it should prove that this will add value, says the Association of Member Nominated Trustees’ David Weeks, arguing that more immediate action should be taken to address weakening member representation on scheme boards.
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NewsDalriada working with replaced trustee to recoup £14m
Professional trustees charged with rescuing three pension schemes that flouted investment rules say selling out of prohibited assets may thwart their efforts to recoup more than £14m owed to members.
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OpinionIs more needed to clean up fiduciary management?
Quantum Advisory’s Amanda Burdge says the welcome Competition and Markets Authority remedies for fiduciary management still leave the door open for managers to mark their own scorecards in some situations.
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OpinionIntroduction of professional trustees should be gradual
The industry remains divided over whether trustee boards should be mandated to appoint a professional trustee because, while they might improve standards, they also lead to an increase in costs. To tackle this, the Pensions Management Institute’s Lesley Carline explains why the regulator should adopt a phased introduction of professional trustees.
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News
PPF aims to spruce up assessment panel as it tenders for 10 experts
On the go: The Pension Protection Fund has set the ball rolling for a retender of its assessment period trustee panel with a special focus on corporate restructuring and insolvency proceedings.
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OpinionTurkeys don’t vote for Christmas
Too much of the pensions industry serves its own interests rather than those of its members, says CEM Benchmarking’s John Simmonds. The problem, he argues, lies in the role of scale. But is bigger truly better when it comes to pensions?
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PodcastsPodcast: The future of trusteeship
Podcast: Is there a big difference in governance standards between boards with a professional trustee and boards without? Should lay trustees have to demonstrate how they have acquired a minimum level of knowledge and understanding? And what can be done to increase diversity on boards? In this episode, Laura Andrikopoulos, head of governance consulting at Hymans Robertson, discusses some of the Pensions Regulator’s ‘Future of trusteeship and governance’ consultation proposals, and what impact they might have on the industry.
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News
APPT delays start of professional trustee accreditation system
On the go: The start of the new process for accrediting professional trustees has been delayed. Originally set to start in the summer of 2019, arrangements are now expected to be finalised later this year.
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News
TPR ponders mandatory professional trustee requirement
The Pensions Regulator is consulting on proposals to make it mandatory for a professional trustee to sit on every trustee board, in a bid to ramp up standards and drive consolidation.
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OpinionSmall schemes, big changes: How to tackle the UK governance problem
Dalriada Trustees’ Vassos Vassou sees professionalising the UK’s trustee boards as a potential solution to the governance failings at small UK schemes. But with few sub-scale schemes able to afford the extra cost, could a regulatory levy be used to boost board expertise?
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News
Link Pension Trustees receives record fine of £104k from TPR
On the go: The Pensions Regulator has fined professional trustee company Link Pension Trustees, a total of £103,750 for breaching multiple areas of pension law. This is the largest ever fine handed to trustees by the watchdog.