24 August 2016
The Pensions Regulator has issued a discussion paper titled “21st Century Trusteeship and Governance” which continues engagement with the pensions industry in considering how best to support trustees in fulfilling their responsibilities and improving beneficiary outcomes. The paper highlights key findings and challenges from the Regulator’s research into the work of trustees, and poses thirteen key questions to shape future policy decisions.
The questions are wide ranging, covering: the role of professional trustee, the role of the chair, the challenge for new trustees and trustee knowledge and understanding, minimum competence and continuous personal development, conflicts of interest, engaging with advisers and how to deal with schemes unable to deliver good governance.
I believe the topics are all extremely relevant and very timely, and the Regulator should be congratulated in highlighting this initiative. I intend to respond to this consultation on a personal basis and I would encourage interested trustees and advisers to read the paper and perhaps also to respond to the Regulator with their views.
If there is interest, I would be delighted to share the text of my submission.
The consultation period for this paper ends on 9 September 2016.