Exclusive insight from the Trustee Survey –
Trustees are divided on whether a professional trustee should sit on every board. The early insight comes from the mallowstreet Trustee Survey, which is in partnership with the AMNT, PLSA and the PMI. The Survey is drawing to a close on 20th September but there is still time to have your say.
TPR is currently consulting on various aspects of trusteeship and scheme governance. One of the big questions it has asked the industry is: should an accredited professional trustee be required on every board?
The mallowstreet Trustee Survey indicates that UK pension schemes are largely divided on this:
· 51% say no
· 40% think yes,
· and 9% have no opinion.
The Trustee Survey’s respondents are equally divided on whether accredited certifications hold any value – 45% say no, and 55% think yes (of which half are in favour of the certificate coming from an administered in-person exam, and half prefer it to be from a self-administered test).
What are your thoughts, do you agree with your peers? Or would you like to voice your opinion on whether there should be a professional trustee on every board?
With the survey closing very soon, every opinion matters. Click here to take the survey and within 15 minutes, help influence your peers.
About the Trustee Survey
mallowstreet, together with the Pensions and Lifetime Savings Association, the Pensions Management Institute and the Association of Member Nominated Trustees, have launched an annual Trustee Survey to take the pulse of the nation’s pension trustees.
The trustee landscape is changing; from freedom and choice to climate change and technology, there is a growing range of things trustees need to keep on top of. This complexity is reflected in a proliferation of regulatory requirements and increased demand for professional trustees.
Given these demands on trustees, how can they make sure they are up to date on developments in regulation, investments and member engagement? Are their training needs being fulfilled, and do they have the resources they need to act in members’ interests? How satisfied are they with their role – and how is their effectiveness being assessed?
The mallowstreet Trustee Survey seeks to answer these and more questions by offering a forum where trustees can share their experience and views anonymously.
The results of the report will be shared with those who have taken part in the research, as well as the wider trustee community. The findings will also be taken to The Pensions Regulator and government to campaign for trustees’ needs.