11/01/10 Trustees must raise their game in 2010 says Pitmans Trustees Ltd

11 January 2010

Pitmans today urged trustees to raise their game in 2010 by providing leadership in managing DB pension scheme risk for scheme sponsors.

Commenting, Richard Butcher, Director at PTL said, ‘Trustees are faced with many challenges – volatile investment markets, widening deficits and cash strapped employers to name just a few. This isn’t, however, any different from last year or ten years ago. In order to progress and to help scheme sponsors mitigate the risk that these things present the governance model itself has to change.’

Butcher added, ‘The world moves faster every day. The available solutions change all of the time. The regulatory expectation of trustees is increasing and for pension scheme risk to be controlled, trustees must begin to think more strategically and act more dynamically. Trustees need to ensure that they have an infrastructure that is sufficient to deal with investment risk, liability risk and process risk and a well resourced governance structure that is able to make decisions quickly. They must look to secure the members’ benefits as soon as possible at the least cost to the sponsor.’

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