Trustee Board Evaluation
Trustee Decisions believes running a pension scheme is a significant undertaking which requires expertise and industry wide knowledge. Our services are based on delivering this to our clients in an independent and impartial manner unhindered by any conflict of interest. These services include:
Trusteeship services to trustee boards that require an independent, experienced and impartial professional trustee. Trustee Decisions Limited will not advise the sponsoring employer as well as the trustee body to an occupational pension scheme.
Once off consultancy assignments to support pension scheme trustees during times of change, such as scheme restructuring, or in the run up to or following a change of ownership of the sponsoring employer.
From time to time disputes may arise and engaging an arbitrator can be a relatively quick and cost effective solution. Trustee Decisions has access to a specialist panel of advisors to support these situations including for example, actuarial, investment, legal and tax professionals.
With the best of intentions, this is one area of trustee boards which is not addressed. At Trustee Decisions, we support trustee boards by asking the challenging question: “How effective is your trustee board”? Effectiveness may be defined as how trustees get the job done to ultimately support the beneficial member taking account of (a) how the trustees operate on a day-to-day basis, both individually, and as a Board with the various stakeholders which are internal and external, (b) how accountable trustees are to their beneficial members and sponsor and (c) how trustees offer assurance to the beneficial members and the sponsor that their work is comprehensive and fit for purpose.
Areas for review may include:
i. How do the trustees manage their aims and objectives
ii. How often are aims and objectives reviewed and are they fit for purpose?
iii. How often do the trustees meet, for how long and is the current timeliness of these meetings fit for purpose?
iv. Are working papers for trustee meetings received within reasonable time periods?
v. To what extent do the trustees use sub-committees to support their workload and how effective do trustees believe any such sub-committees are?
vi. How do trustees engage with their stakeholders and service providers internally
vii. How do trustees monitor operational risk?
For further information, please contact us by email: firstname.lastname@example.org
In the current regulated climate companies and trustees can benefit significantly from practical training which is specific to their scheme. Our approach is to use case studies with live situations and role playing to illustrate concepts.
At Trustee Decisions we appreciate that there will be occasions where the existing trustees no longer wish to act for the scheme and we can support this requirement. Our focus remains on balancing the needs of all parties and on making sure that things happen, promptly and cost efficiently as they should do.
Our appointment can be temporary in nature, addressing specific needs and helping parties through complex situations which often involve potential conflict. The skills sets required of independent trustees in such circumstances are often different to those required in the normal course of events. This may involve Trustee Decisions engaging other consultants which it has partnered with including actuarial, investment, legal and tax professionals.
Trustee Decisions has partnered with a number of experienced professionals to support projects where required in the area of actuarial, audit, investment, legal and tax to ensure constructive independent and impartial advice.