Independent Pension Trustee
PTL offers an independent trustee service to occupational pension schemes.
PTL has extensive experience of dealing with both money purchase (defined contribution) and defined benefit (including final salary) arrangements. PTL act for self administered and insured schemes. PTL act for open, closed, paid up and winding up schemes. PTL also act for schemes changing from one to another of these. PTL can be appointed as either the sole independent trustee or jointly with other trustees. We can be appointed as a company or as individuals.
There are a number of reasons why you may seek the services of an independent trustee, for example:
- An independent trustee can help in managing and mitigating the conflicts of interest that arise, for example, during negotiations over funding or the future of the scheme
- You may feel the increasing complexity of pension legislation and potential penalties (such as fines or even imprisonment) are too great for the current trustees to bear alone
- An independent trustee can assist co-trustees in acquiring and maintaining the Knowledge and Understanding requirements of the Pensions Act 2004
- To lead or assist in negotiations over scheme funding
- To simplify the governance of your scheme
- To provide added reassurance to the scheme’s members
- To provide a clean break if you have chosen to close your scheme or to wind it up
- To gain access to practical experience and technical knowledge
- To ensure the most efficient use of the scheme’s advisors and to obtain value for money and best advice
- To provide continuity of governance where frequent changes to the structure of an organisation would mean frequent changes to the trustee board
- To reduce your training costs (trustees need training for them to demonstrate Trustee Knowledge and Understanding)
- To manage particular projects such as the selection and appointment of advisors, investment managers and scheme restructuring.