The current state of funding of DB schemes has pushed many of the sponsoring employers of these schemes to consider how to minimise their defined benefit liabilities and risks. In order for the liability management process to be successful, a number of key stakeholders need to be managed. These are: the trustees of the scheme;… Continue Reading
Category Archives: Trusteeship
Subscribe to Trusteeship RSS FeedSovereign Annuities – Nearly a Reality
Posted in Administration, Funding, Investment, Pensions Board, Scheme Restructuring, TrusteeshipAfter much talk over the past 2 or 3 years, at last sovereign annuities have become a reality… nearly. This week, I was one of the speakers at the launch of the first sovereign annuity approved by the Pensions Board. Getting to this point is a major milestone in the long journey towards being able to… Continue Reading
Trustee Training Update
Posted in Administration, Pensions Board, TrusteeshipThe Pensions Board has recently confirmed that they will monitor trustee training compliance on an ongoing basis. Trustees are required to record in the scheme’s annual report that they have received the appropriate training as required by the Pensions Act and within the specified time limits. Trustees will be interested to note that the Pensions… Continue Reading
Trustee Training Reminder: Obligations for Trustees and Employers
Posted in Administration, Pensions Board, Trusteeship1 February 2012 is the cut off time by which trustees, who were trustees prior to and after 1 February 2010, must have completed their trustee training. Trustees appointed since 1 February 2010 had to receive training within six months of their appointment. Every trustee of an occupational pension scheme (except a death benefit only… Continue Reading
Managing Occupational Pension Schemes in Crisis: 5 things to Consider
Posted in Funding, Scheme Restructuring, TrusteeshipThe continuing economic crisis sees those with responsibility for pension schemes faced with a number of complex issues. There are a number of core issues which we are seeing consistently arise. These include the following: Check the Power of Amendment Check Employment Contracts Check the Effect of the Change Conflict, Confidentiality and Consultation Obtain Advice
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