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...
THIS PRACTICE NOTE APPLIES IN RELATION TO OCCUPATIONAL PENSION SCHEMES The requirement to appoint a chair was introduced on 6 April 2015 through the...
Occupational pension schemes are generally constituted by a trust, and as such are governed by a board of trustees, whether individual trustees or a corporate trustee (in...
BREXIT IMPACT: The information to be given when appointing a corporate director will be affected by Brexit. For further details, see Impact of Brexit on appointment of...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES Occupational pension schemes can have a number of different trustee structures, the most common of...
THIS PRACTICE NOTE APPLIES TO TRUSTEES OF ALL PENSION SCHEMES A power is a legal authority conferred on a person to deal with and dispose of property which is not their...
FORTHCOMING DEVELOPMENT: The March 2018 White Paper ‘Protecting Defined Benefit Pension Schemes—A Stronger Pensions Regulator’ identified concerns about a lack of...
This Practice Note explores the boundaries of a trustee’s duty not to fetter his discretion. It should be read in conjunction with the Practice Note: Discretionary...
It is increasingly common to find independent individuals acting in relation to occupational pension schemes, either as the sole trustee or as one of a number of trustees...
FORTHCOMING DEVELOPMENT 1: The March 2018 White Paper ‘Protecting Defined Benefit Pension Schemes—A Stronger Pensions Regulator’ identified concerns about a lack of...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES Pension scheme trustees have a duty to act in the best interests of the scheme's...
Statutory requirements Trustee boards must put in place and implement arrangements which provide for at least one-third of the total number of trustees to be...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES This Practice Note examines the powers of the Pensions Regulator (the Regulator) to suspend or...
It is often thought that pensions scheme trustees owe a duty to act in the best interests of the beneficiaries of the scheme. This Practice Note explores the origins of...
When making decisions, trustees are required, among other things, to: • act in the best interest of scheme beneficiaries • act for a proper purpose • have a level of...
Other protections available to trustees Despite dire warnings about the onerous nature of trusteeship, the liabilities imposed by the Pensions Regulator and the pitfalls...
FORTHCOMING DEVELOPMENT: On 2 July 2019 the Pensions Regulator (TPR) outlined consultation proposals into the future of trusteeship and governance. TPR...
THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES Trustees may be subject to personal liability if they commit a breach of trust which causes loss to...
FORTHCOMING DEVELOPMENT: On 2 July 2019 the Pensions Regulator (TPR) outlined consultation proposals into the future of trusteeship and governance. TPR proposes to reduce...
