You are here

Taking root

Pension scheme trustees who approach their duties seriously and responsibly will flourish, says Carolyn Saunders

16 November 2011

The legislation relating to occupational pension schemes and the regulatory framework ?is becoming ever more complex. This ?has had the result that pension schemes are finding it increasingly difficult to comply with the requirement that at ?least one third of the trustee board should be nominated by scheme members. Unsurprisingly, volunteers ?for these trustee positions are in ?short supply.

Ticking bomb

So, is this an overreaction or are the duties and responsibilities of a pension scheme trustee really that much more onerous than those of other trustees?

The principal common law duties ?of a pension scheme trustee are:?

  • to comply with the terms of the trust;

  • to act in the best interests of the scheme’s beneficiaries;

  • Want to read on?

    This article is part of our subscription-based access. Please pick one of the options below to continue.

    Already registered? Login to access premium content

    SUBSCRIBE for one User

    Unlimited access to the entire SJ website for a full year for one user.

    • 10 issues a year delivered to you
    • Digital edition of the magazine for one user – sent to your inbox or accessible through the website
    • Access to premium content on the website
    • Access to the fully searchable online archive of Solicitors Journal, Managing Partner and Private Client Adviser, which spans over 13 years
    • Weekly email newsletter with all the latest news, analysis and features
    • Comment on SJ content and contribute to the SJ community online
    • Advanced search feature
    • Online support
    • Access to SJ app compatible with Android and Apple devices – coming soon!
    • 6 special focuses per year
    • Special offers and discounts on Solicitors Journal and IICJ events

    Subscribe

    CORPORATE SUBSCRIPTION

    Your department or entire firm can subscribe to Solicitors Journal online, providing easy access for all who require it. Discount corporate subscription rates apply, based on number of users.

    The Corporate IP Licence includes:

    • Digital copy of the magazine sent to individuals’ inboxes and accessible through the website. Solicitors Journal publishes 10 issues per year
    • Unlimited access to premium content on the website based on IP addresses
    • Unlimited access to the fully searchable online archive of Solicitors Journal, Managing Partner and Private Client Adviser, which spans over 13 years
    • Weekly email newsletter with all the latest news, analysis and features
    • Comment on SJ content and contribute to the SJ community online (username required)
    • Unlimited access to SJ app compatible with Android and Apple devices
    • 6 special focuses per year
    • Special offers and discounts on Solicitors Journal and IICJ events

    The Corporate IP Licence is tailored to your firm, making it the most cost effective way for the firm to access Solicitors Journal, and enables the firm to remain compliant with copyright and our Terms and Conditions. This gives you the ability to print and circulate articles within the firm.

    To enquire about a Corporate IP Licence for your firm, please contact our Subscriptions Manager on emily.beechey@solicitorsjournal.com.