All Trustees articles – Page 22
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News
Royal London issues guidance for trustees when appointing IFAs
On the go: There is no right answer to whether trustees should be appointing financial advisers to help members make retirement decisions. However, doing nothing is not a risk-free option, a new policy paper from Royal London and Eversheds Sutherland has stated.
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Features
Barnet sees improvement in admin following regulatory intervention
The London Borough of Barnet Superannuation Fund has introduced a range of new internal controls to improve its administration in response to sustained criticism of its service levels and intervention by the Pensions Regulator.
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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
Nearly one in five schemes use FM as green issues come to the fore
On the go: Despite a regulatory investigation, assets managed by fiduciary managers have broken the £170bn barrier, up 21 per cent from £142bn in 2018.
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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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News
Guidance on GMP equalisation methodology published
On the go: Guidance outlining the methods that schemes should use to equalise for the inequalities of guaranteed minimum pensions has been published by the GMP Equalisation Working Group.
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Features
Catherine Howarth: ESG statements are just the start
Pension schemes are engaging with issues such as climate change more than ever before, but there is still a lot of work to do before the industry starts seeing real implementation and delivery, says ShareAction’s chief executive, Catherine Howarth.
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News
Skeleton staff levels pose hidden dangers for pension funds
On the go: Smaller pension schemes may be underestimating the risks posed to their funds by trustee governance gaps and over-reliance on key individuals.
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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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NewsShell MND elections reignite debate over selection panels
The Shell Contributory Pension Fund announced elections for member-nominated trustees last month, with campaigners calling on members to seize the opportunity and appoint climate risk-conscious representatives.
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News
DB governance not up to scratch, finds XPS
On the go: Only 22 per cent of pension schemes have a defined plan of action if their funding level falls, according to a recent XPS Pensions governance survey, which found huge variations in standards of scheme management across the sector.
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OpinionThe mirage of independence
What does independence mean to you? Does it mean being free of control or influence by third parties? Does it mean making decisions without fear or favour?
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News
TPR replaces DC pension trustees at Dunnes Stores
On the go: Pension trustees at Northern Irish high street retailer Dunnes Stores have been stopped by the Pensions Regulator from running the company’s defined contribution scheme.
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Features
University of Birmingham replaces GPP with master trust
The University of Birmingham has replaced its group personal pension plan with a master trust administered by a different provider, following a review of staff retirement savings arrangements.
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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.
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News
TPO orders trustees to repay £2.4m into pension scheme
On the go: The Pensions Ombudsman has required the trustees of Henry Davison Limited Pension Scheme to repay £2.4m back into the scheme.
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OpinionWhy would anyone set up a trust-based scheme today?
Secondsight’s Matthew Mitten explains the shift from trust-based to contract-based defined contribution schemes, arguing that individuals should be encouraged to engage with their pension through innovative workplace education rather than relying on a board of trustees to make decisions on behalf of the masses.
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OpinionHow to take a proactive approach to decision-making
Brian Kilpatrick, a trustee director at Law Debenture, explains how trustees can put together proactive decision-making frameworks to ensure good governance.
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News
OPDU launches independent pension trustee liability policy
On the go: The Occupational Pensions Defence Union has launched a pensions trustee policy aimed at individual independent trustees in the UK.
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OpinionTrustees must not shirk responsibility on DB transfers
From the blog: The Merchant Navy Officers Pension Fund has, in common with many other defined benefit pension schemes, seen a significant increase in transfers out of the fund since the introduction of pensions freedoms introduced three years ago under the then pensions minister, Steve Webb.