The following Pensions guidance note Produced in partnership with Mark Baker of Pinsent Masons provides comprehensive and up to date legal information covering:
The role of secretary to pension trustees has changed dramatically in recent years and is important to the smooth running of a scheme. This Practice Note explains the legal and governance considerations for anyone appointed to that role.
The way that trust-based pension schemes are run has changed greatly over the past decade, and with it the role of secretary has taken on a new importance.
In past decades when there was less concern about pension scheme funding and a lighter regulatory framework, the secretary might well have been a silent minute taker. But the extra work that is now demanded of pension trustees and the greater expectations placed on them mean that more is now expected of a secretary.
The secretary will generally play an active role in the running of the scheme—certainly in the trustee meetings and in organising work between those meetings.
In some cases the secretary to the trustees will be visible to the pension scheme's members, either as part of the team of people running the scheme or even as a point of contact for the membership.
The points in this Practice Note apply for defined benefit and defined contribution schemes alike. While trustees tend to find governance issues more time consuming in a defined benefit scheme, the role that a secretary can
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234