All Trustees articles – Page 24
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News
TPR levies first fine on professional trustee
On the go: The regulator has disclosed that it has imposed a £3,000 fine against a professional trustee for failing to update their scheme’s register with news of their appointment.
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OpinionWhat are trustees’ responsibilities when it comes to DB transfers?
Trafalgar House’s Michael De Souza discusses pension scheme trustees’ main responsibilities with regard to defined benefit transfers.
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News
Rate of investment consultant tenders has plummeted, survey finds
Less than 3 per cent of pension schemes retendered for investment consulting services last year, compared to 18.6 per cent of schemes in 2008, according to research from selection specialists IC Select.
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OpinionPeople trust people, not institutions
From the blog: Whether a pension fund is facing closure, or just suspending its website while investment options change, there are many reasons why a scheme might have to communicate tricky or delicate subjects.
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Opinion
GDPR - A brave new world for the pensions industry
It is easy to imagine bunkers in remote corners of England, hatches locked, filled with trustees who are desperate not to hear any more about the General Data Protection Regulation.
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News
TPR plan welcomed, but concerns remain over consistency
The industry has welcomed the Pensions Regulator's new corporate plan, which outlines how it plans to become “clearer, quicker and tougher”, but concerns remain over consistency and the watchdog's focus on smaller schemes.
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NewsCoats proposes merger of its UK DB schemes
Industrial thread manufacturer Coats has proposed a merger of its three UK defined benefit pension schemes to cut costs and increase efficiency.
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OpinionAdmit mistakes and encourage discussion to prevent repetition
Sean Burnard from Law Debenture Pension Trustees explains how creating a learning culture, seeking diverse opinions and carrying out premortems can help trustees avoid making new mistakes or repeating old ones.
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News
Trustees with fid man less likely to check quality of service
Trustees employing fiduciary managers are less engaged in assessing the quality of their provider than those with a traditional investment consultancy relationship, the latest report from the Competition and Markets Authority has found.
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Opinion21st Century Trusteeship – managing advisers and service providers
The Pensions Regulator’s Anthony Raymond explains why appointing the right service providers is a fundamental part of good governance.
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OpinionHow to oversee a fiduciary manager for your scheme
Rachel Croft at Independent Trustee Services discusses the key steps for trustees to take when it comes to effectively overseeing a fiduciary manager.
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News
Could airline black box approach take off in the pensions industry?
A Pensions Institute report published on Wednesday has suggested that emulating the airline industry’s black box thinking approach of systematically analysing mistakes could solve many of the problems facing defined benefit schemes.
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FeaturesLadbrokes Coral Group shares its trustee board
High street bookmaker Ladbrokes Coral Group has appointed a single trustee board for its pension plans following a company merger, a move experts say can improve efficiency and consistency.
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News
TPR fines airline's scheme for failing to get accounts audited on time
Four trustees of the Pakistan International Airlines Retirement and Death Benefits Plan have been fined £500 each for failing to get accounts audited on time for two years in a row.
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News
Box Clever trustees under scrutiny for scheme setup decisions
The trustees of failed TV rental business Box Clever’s defined benefit pension scheme have come under scrutiny for their decisions involving the fund’s setup, as part of an Upper Tribunal hearing on the company’s collapse.
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FeaturesRobo-trustees: Would you welcome one on your board?
Any other business: For those feeling uneasy about the idea of sitting next to a Star Wars-style droid at a quarterly meeting, you can rest assured we are not likely to witness the rise of the robo-trustee anytime soon.
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OpinionIs an employer-sponsored financial adviser right for your members?
Mercer’s Vito Faircloth discusses the advantages of an employer-sponsored financial adviser for pension scheme members.
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News
GKN trustees say hostile takeover must respect pension obligations
Trustees of GKN’s pension schemes have stressed that any potential buyer of the company, which rejected an unsolicited takeover approach from Melrose Industries last week, should be aware of the scheme’s recent funding positions.
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FeaturesUnilever forks out £600m to tackle £1.2bn DB deficit
Unilever has contributed £600m to its scheme, after an actuarial valuation revealed a £1.2bn deficit. Meanwhile, the trustees have taken steps to ensure they can act quickly should there be a significant corporate event.
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OpinionHow to ensure your MNT selection process is right for your scheme
There is no one-size-fits-all approach to selecting member-nominated trustees, says Ruth Bamforth at Walker Morris.