The mallowstreet Trustee Report is out now!
mallowstreet, in partnership with the Association of Member Nominated Trustees (AMNT), Pensions and Lifetime Savings Association (PLSA) and the Pensions Management Institute (PMI), surveyed the trustee community in August and September 2019 to highlight the challenges the sector faces.
The report is broken down into three sections covering; Diversity, Governance and Outcomes drawn from 200 qualified responses.
Trustees are responsible for the financial futures of over 76% of the working population in the UK, and the only constant in their lives is change - in professional requirements, regulation, markets, yields, macro and political risks. Yet, very little time is spent identifying the issues that act as a barrier to trustees securing the best outcomes for their members.
The Trustee Report aims to help our industry grow and evolve so that we all can provide a better retirement for everyone.
To access The Trustee Report visit mallowstreet and download it today.
Discussing the report, mallowstreet CEO Stuart Breyer said: “The aim of the Trustee Report is to help our industry grow and evolve in order to provide a better retirement for everyone. We were delighted with the highly engaged response to the Survey from across the mallowstreet community, as well as our partners — AMNT, PLSA and the PMI. This response generated more than 14,000 primary data points, which we’ve analysed and streamlined to create the report you can download now for free from mallowstreet.com. We believe that by making this report publicly available we can stimulate industry-wide discussion and continue to support Trustees across the UK.”
David Weeks, Co-Chair of the Association of Member Nominated Trustees commented: “mallowstreet’s Trustee Report is a mine of useful information about the views and attitudes of pension scheme trustees. Some conclusions are expected; others will come as surprises. This adds to the value of the exercise. The AMNT represents trustees who speak for individual scheme members. We encouraged our member trustees to take part in the survey. We now look forward to discussing how best to turn the survey results into action on the ground.”
Julian Mund, Chief Executive, PLSA said: “The PLSA was really pleased to support this survey from mallowstreet, which raises loads of interesting findings. Good governance is increasingly under the regulator’s microscope, so it was striking that only 18% of respondents consider governance a top three priority for the next 1-2 years. It should lie at the heart of well-run schemes which achieve value for their members. We are at the forefront of debates around this and in particular the importance of having skilled, knowledgeable and diverse trustee boards supported by an effective and expert executive body responsible for day-to-day matters. We look forward to continuing to work with mallowstreet, regulators and policymakers in support of good governance for all schemes.”
Lesley Carline, President of the Pensions Management Institute, said: “The PMI is delighted to have been involved in mallowstreet’s Trustee Report. We believe 2020 is going to be an important year with regards to improving trustee standards in the industry, not least driven by the Pension Regulator’s emphasis on higher standards of trustee boards in terms of diversity, governance and ensuring better outcomes for members. In tandem with this, the PMI will continue to develop its own programmes and initiatives to drive standards among both professional and lay trustee groups further.”
To access The Trustee Report visit mallowstreet and download it today.
======================== Note For Editors ========================
To download the report, please visit https://www.mallowstreet.com/Research/TheTrusteeReport. Circulation of the downloaded report is prohibited and request that you refer to the download in any online correspondence. The report is free to access and download.
For further information on the report or to request further comment please contact:
Tom Peterson CMktr
Digital Engagement Manager | mallowstreet
Direct: + 44 (0)20 3972 2574
Office: + 44 (0)20 3972 2560
ABOUT mallowstreet - A Better Retirement for Everyone
mallowstreet's mission is to empower every Pension Fund to make better decisions, so every person can have a better retirement.
We are a members-only website and run a series of educational in-person events for professionals in the UK institutional pensions community.
- mallowstreet.com is the ONLY secure and verified online community for pension funds, their consultants, advisers and other institutional investors
- mallowstreet.com allows any of our clients to interact with a community of over 3,000 industry professionals 24 hours a day, 365 days a year
- 2019 mallowstreet hosted over 40 in-person events
ABOUT THE ASSOCIATION OF MEMBER NOMINATED TRUSTEES
The Association of Member Nominated Trustees (AMNT) aspires to be a positive force and a prominent voice in the UK pensions industry today. We believe that, given the inherently complex nature of UK pensions and the increasing burden being placed on trustees, far more support should be made available to member nominees.
We are a not-for-profit organisation supporting member-nominated trustees, member-nominated directors and employee representatives of UK-based pension schemes in the private and public sector (funded and unfunded).
We launched with the support of Pitmans Trustees Limited, as a result of feedback and comments from member nominees who expressed a desire to be able to liaise with other member nominees, share experiences and build a community designed specifically to cater for their unique perspective within the pensions industry.
Following our initial market research an inaugural meeting was held on 3rd September 2010, attended by individuals representing a range of schemes including Marks & Spencer, Telent, ICI, Atkins, Aegon, Coats, United Technologies Corporation, Kasbank, Clariant, Heygate and LBBD. Since then the association has won universal support, including in the pensions media and among the pensions trade bodies; momentum continues to build. visit www.amnt.org
ABOUT THE PENSIONS AND LIFETIME SAVINGS ASSOCIATION
We’re the Pensions and Lifetime Savings Association; we bring together the pensions industry and other parties to raise standards, share best practice, and support our members. We represent over 1,300 pension schemes with 20 million members and £1 trillion in assets, across master trusts, defined benefit, and defined contribution schemes, and local government funds. Our members also include some 400 businesses which provide essential services and advice to UK pensions providers.
Our mission is
to help everyone to achieve a better income in retirement. We work to get more
people and money into retirement savings, to get more value out of those
savings, and to build the confidence and understanding of savers.
ABOUT THE PENSIONS MANAGEMENT INSTITUTE
The PMI is the professional body which supports and develops the experts who run UK pension schemes. It has the broadest skills base of pensions professionals and trustees in the UK, with some 6,500 members dedicated to establishing, maintaining and advancing the highest levels of pensions knowledge. PMI members are responsible for managing and advising some of the largest institutions in the world and taking key decisions on substantial financial matters. With some £1 trillion invested in UK pensions, PMI members have a vital role to play in shaping the nation’s financial future. With almost 40 years of successful operation behind it, the PMI is an organisation at the cutting edge of pensions. For full details of PMI’s qualifications, membership grades and ongoing support services visit www.pensions-pmi.org.uk
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