Trustees

Q&As

A member in a pension scheme has dementia. The member’s children are attorneys under a registered lasting power of attorney (LPA). The member’s wife has asked that the member’s pension now be paid into a joint account. The attorneys have been blocking this, but the member’s solicitors say the member has validly revoked the LPA and to support this they have produced a deed of revocation. If the LPA has been revoked, is there any way that the trustees of the pension scheme can take instructions from the children? Is it possible the revocation could be invalid?

A member in a pension scheme has dementia. The member’s children are attorneys under a registered lasting power of attorney (LPA). The member’s wife...

1st Aug

Q&As

What information do you have on setting up a trust corporation?

What information do you have on setting up a trust corporation?Trust corporationA trust corporation is a company which is given special status under...

1st Aug

Q&As

Does a professional trustee, for example, a pension trustee, have to register at Companies House, a charge granted by it over property which it holds in trust?

Does a professional trustee, for example, a pension trustee, have to register at Companies House, a charge granted by it over property which it holds...

31st Jul

Q&As

Can a scheme member request that the trustees divest from fossil fuel investments?

Can a scheme member request that the trustees divest from fossil fuel investments?Since 1 October 2019, trustees of occupational pension schemes are...

31st Jul

Q&As

Does a scheme's exoneration and indemnity clauses protect trustees of an occupational pension scheme from personal liability?

Does a scheme's exoneration and indemnity clauses protect trustees of an occupational pension scheme from personal liability?A scheme's exoneration...

31st Jul

Q&As

Are there any restrictions on, or tax consequences arising as a result of, UK pension scheme trustees (whether individual or corporate) being resident outside the UK?

Are there any restrictions on, or tax consequences arising as a result of, UK pension scheme trustees (whether individual or corporate) being resident...

Produced in partnership with Oliver Hilton of Radcliffe Chambers 31st Jul

Practice notes

Trustee insurance in pensions

Trustee insurance in pensionsOther protections available to trusteesDespite dire warnings about the onerous nature of trusteeship, the liabilities...

31st Jul

Practice notes

Discretionary decisions—what must pension trustees do?

Discretionary decisions—what must pension trustees do?THIS PRACTICE NOTE APPLIES TO TRUSTEES OF ALL PENSION SCHEMESA power is a legal authority...

Produced in partnership with Oliver Hilton of Radcliffe Chambers 31st Jul

Practice notes

Member-nominated trustees (MNTs) and member-nominated directors (MNDs)

Member-nominated trustees (MNTs) and member-nominated directors (MNDs)Statutory requirementsTrustee boards must put in place and implement...

31st Jul

Q&As

A former member-nominated director (MND) (who has just lost their position as MND) of a corporate trustee would like to challenge the result of the election as they believe one of the newly elected MNDs did not follow the rules of the process. Should the former MND bring a challenge through the scheme’s IDRP process or go straight to the Pensions Regulator?

A former member-nominated director (MND) (who has just lost their position as MND) of a corporate trustee would like to challenge the result of the...

31st Jul

Q&As

Can a person who is a director of a company also be a trustee of the company's occupational pension scheme?

Can a person who is a director of a company also be a trustee of the company's occupational pension scheme?Yes, but that person should not put...

31st Jul

Q&As

Does a claim by a pension fund have to be issued in the names of the individual trustees in their capacity as trustees of the pension fund?

Does a claim by a pension fund have to be issued in the names of the individual trustees in their capacity as trustees of the pension fund?A pension...

31st Jul

Practice notes

Managing conflicts of interest in pensions

Managing conflicts of interest in pensionsTHIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMESPension scheme trustees have a duty to...

31st Jul

Q&As

Where a company is appointed as a corporate trustee of a pension scheme in place of a board of individual trustees (as part of which the individual trustees become directors of the corporate trustee), is there a need to re-run the MNT/MND process following the appointment of the corporate trustee?

Where a company is appointed as a corporate trustee of a pension scheme in place of a board of individual trustees (as part of which the individual...

31st Jul

Practice notes

Appointment, removal and substitution of pension trustees

Appointment, removal and substitution of pension trusteesOccupational pension schemes are generally constituted by a trust, and as such are governed...

31st Jul

Practice notes

The duty of pension scheme trustees to act in the best interests of beneficiaries

The duty of pension scheme trustees to act in the best interests of beneficiariesIt is often thought that pensions scheme trustees owe a duty to act...

Produced in partnership with Michael Uberoi and Saaman Pourghadiri of Outer Temple Chambers 31st Jul

Practice notes

Investment powers and duties of pension trustees

Investment powers and duties of pension trusteesCORONAVIRUS (COVID-19) UPDATE: The market volatility caused by coronavirus has led to an increase in...

31st Jul