Most pension schemes are introduced by companies keen to provide a benefit package that will attract and reward quality employees. The irony is that the increasing burden of laws and regulations, which were introduced with the intention of improving the security of scheme benefits for members, may result in employers withdrawing their pension scheme and leaving their staff to fend for themselves, for fear of breaching the regulations.
It is therefore becoming increasingly common for firms to recognise the considerable benefits to appointing a professional as a trustee, not just as an adviser. Perspective Corporate Solutions advisers have acted as Independent and Professional Trustee on a number of occasions.
Through our Independent Trusteeship proposition we can help by:
- ensuring that the existing trustee board act in a compliant manner by being appointed as professional trustee to sit alongside them.
- acting solely as Independent Trustee where an employer is unable to find any Member Nominated Trustee (MNT) to fulfil this role, or when they believe that a conflict between company and trustee has arisen, which is a common occurrence at present given the complex funding issues surrounding defined benefit schemes.