How do you judge the value of a professional trustee and how do you know if they are doing the job you expect? Trustee standards are a hot topic at the moment, and the increase in number and size of pensions schemes where sole trustees are being appointed is starting to attract the attention of the Regulator.
When the accepted wisdom is that diverse opinions on a board adds to better informed decision making, how can a sole trustee structure be anything other than compromised? Concerns about employer friendly appointments leading to less robust funding discussions have also been highlighted as a potential concern along with the potential for skewed procurement processes.
Roger Cooper, Head of Trusteeship at Pi, will look at how a trustee company needs to rise to the challenge and why the sole trustee model can still offer the benefits of diversity.
We will be joined by Rosalind Connor, a Partner at ARC Pensions Law, who will be looking at the inherent conflicts in sole trusteeship and why this model has governance challenges in a modern Trustee Board environment.
Rosalind has spent more than two decades advising employers, trustees, administrators and members in relation to the establishment, management and winding up of pension schemes. Rosalind was Chair of the Association of Pension Lawyers between 2015 and 2017 and it is probably fair to say, she is not one to sit on the fence, so will no doubt provide some interesting challenges for us to consider.