Sole Trusteeship
Replacing a board of individual trustees with a sole trustee can be attractive for employers wishing to free themselves from the day to day and time consuming responsibilities of maintaining a trustee board to oversee their pension scheme.
This is particularly true at a time when it is becoming increasingly difficult to find individuals able and willing to act as Company and Member Nominated Trustees, and where the onus of complying with the legal and regulatory requirements imposed on trustees is ever increasing.
Appointing a sole trustee can also overcome many of the inherent conflicts which arise during funding negotiations or other confidential discussions, and can also be a useful solution where the scheme is closed to new entrants and future accrual and the pension offered by the scheme is no longer part of the employer's ongoing pay and reward strategy.
At ITS we act as sole trustee to schemes ranging from £2m to £150m. Some more information about the reasons for appointing a sole trustee, and our approach to sole trustee appointments can be found by clicking on the thumbnail below.
