Client feedback


They deliver above expectation when the scheme has a particular challenge.
Ian Edwards,
Comet
Appointing Kevin as KBC professional trustee was one of the best decisions the bank took. He complements the other two trustees and also appreciates the position of the employer too. The experience a professional trustee adds is invaluable and they can share their knowledge and market practice within the KBC plan. Kevin manages the budget in consultation with the bank, fully debriefs all parties and maintains a constant dialogue with myself (as HR Manager) and trustees. Since we have worked together for a number of years, Kevin also appreciates some of the limitations we face ie budgets, and always comes up with a proactive approach and solution. His input is particularly valued by the bank trustee who is an actuary in our pensions department in Belgium Head Office.
Sharron King,
KBC Bank
Professional and forthcoming with support.
Martin Crees ,
Rabobank
I wanted to look at the effectiveness of our trustee board, so Gillian, our PSGS scheme secretary, provided their trustee self-assessment tool to help me gather thoughts and opinions from others on the board. The tool was extremely easy to use and asked all the right questions to help me collect the information I needed as Trustee Chair. It is a great example of the way PSGS shares knowledge with their clients and makes dealing with key governance issues easy. As well as enabling me to meet one of the Regulator’s 21st century trusteeship requirements, using the tool has flagged trustee training needs and ways we could improve trustee meetings further.
Claire Silvester,
Vector Aerospace
Wish I'd had the opportunity to do the Trustee training course sooner!
Stuart Atkins,
Raleigh UK Ltd
Very broad, comprehensive trustee training course covering a wide range of topics. Excellent!
Tom Graham,
Star Group Pension Scheme

21st century trusteeship and governance

Topic:

Legal & governance

Date published:

Monday, 8 August 2016

HR Trustees would like to make clear our support for the focus on ensuring that the industry is served by trustees that best represent the interests of members. The environment for schemes is becoming increasingly complex and funding levels and sponsor finances mean that there are often no easy answers to the questions facing trustees today.

We append responses to the 13 questions posed here. We suggest that a distinction is created between underperforming schemes who have the resources to improve governance, processes and investment strategies and those who lack quality in these areas due to severe sponsor wherewithal shortfalls. In the former case, we broadly agree with TPR’s approach to create additional structure but not additional regulatory burdens upon them. In the latter case, it must be worth exploring mechanisms such as consolidation or routes to ease the paths to compromises that relieve the pressures on both sponsors and member outcomes.

 

 

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