Why an Independent Trustee
More and more pension funds are recognising the benefits of introducing an Independent Trustee to the board. Here are some of the reasons why;
Independent
- Objective and no conflicts
- Reassurance for members
- Validates decisions by other Trustees
- ‘Negotiator’ between employer and others
Time Commitment
- Existing trustees may lack time and resources to dedicate to the job
- Increasing Knowledge and Understanding requirements from The Pensions Regulator
Expertise
- In depth and up to date governance and regulatory understanding
- Experience of other schemes and how they resolved issues
- Strong relationships with the regulatory bodies
Experience
- Experienced at running other schemes so able to introduce efficiencies and control/reduce costs
- Experience with advisers so advice sought only when necessary and at a reasonable fee
