A guide for trustees
Understanding the security of DC members’ assets is an important, and often complex, task for trustees. The Pensions Regulator requires trustees not only to understand the levels of protection that are in place if there was any failure in relation to the scheme’s managers or platform provider but also to let members and employers know about the results of their investigations.
The Working Party on the Security of DC Assets has been running for several years and aims to help trustees better understand this complex issue and to provide help in identifying the types of questions they should be asking their managers and providers and communicating the results to members. The Working Party are engaging with a number of the main industry bodies to get further clarity on this issue and will provide updates as these become available.
We currently provide three reports which you can download below. One of these sets the scene in respect of the DC Code and the potential issues which may arise regarding Security of DC Assets. The second report is a Communications guide to help Trustees pose suitable questions to their advisors, investment providers and platform managers regarding Asset Security. The third report is a guide for Trustees to the on-going monitoring of changes to DC Asset Security.
We hope you find the guides helpful and would welcome any feedback based on your own investigations of this issue.
Security of DC Assets Working Party Members:
Rona Train (Chair)
Partner, Hymans Robertson LLP
Trustee and Former Co-Chair AMNT
Anna Copestake – Senior Associate / Jane Kola - Partner
ARC Pensions Law
Client Director, Capital Cranfield
Partner, Sacker & Partners LLP
Head of Product and Technical Consultancy, Standard Life
Partner, Lane Clark & Peacock LLP
Investments Proposition, Aviva
Head of UK DC Investment, Fidelity International
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