Why use a professional trustee?

The role of a pension trustee is ever more complex and increasingly demanding. Rising levels of regulation have created extra duties and responsibilities for trustees, with more time required from trustees and senior management to ensure compliance.

Scheme sponsors and pension schemes appoint professional trustees to help manage the workload and to help them meet their governance obligations – either on an ongoing basis or for specific projects and initiatives.

A good professional trustee will:

• be proactive in bringing fresh and innovative ideas to help trustee boards meet their strategic aims;
• work collaboratively with all partners to build consensus and develop a shared vision;
• deliver value for money through effective use of advisers, using the right individual for the right project or task and applying appropriate and constructive challenge;
• help organisations manage conflicts that may arise where a trustee is also a member of the corporate’s management team;
• act as an intermediary between the employer and the other trustees, meaning difficult and sensitive conversations can be managed effectively;
• help schemes and scheme sponsors deal with increasing regulation and associated tasks;
• have a deep understanding of the legal, funding and investment obligations relating to the scheme;
• ensure diversity and inclusivity to bring about a different perspective or viewpoint;
• manage and prioritise the limited time of the other trustees by taking-on key tasks;
• co-ordinate the day-to-day governance of the scheme, such as agenda setting and collecting papers;
• optimise the time of the other trustees as well as the scheme sponsor’s management team.

For further information about how the team at Ross Trustees can help with your requirements, please email mwileman@rosstrustees.com or call +44 (0)7774 803653

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