Client feedback

“I found the trustee training really beneficial, highly recommended. I am not a trustee, I represent the employer and I think it will be valuable for me in future, having a better understanding of the trustees' perspective.”

Dave Strain,

Royal Yachting Association

“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

“We have realised the benefit of having and independent trustee. Claire sees what general practice is like, so is able to guide us.”

Anthony Bowen,

Colart Fine Art & Graphics

“Clare Owen has been a really excellent scheme secretary”

“Very responsive to any queries we have and proactive in managing our scheme to the best. Very happy with the support we are getting.”

Caroline Rand ,

Historic Royal Palaces

“We now have a very collaborative approach between trustees and employer.”

Peter Millard,

Company Secretary, TRL Limited

From giver to taker of advice: the transition to trusteeship

Topic:

Hot topic

Date published:

Tuesday, 5 March 2019

Author:

Stuart Southall

Moving into professional independent trusteeship after 38 years as a consulting actuary means I’ve had to learn to switch off an urge… the urge to give advice.

My experience on the other side of the fence has shown me a great professional trustee is someone who can take advice, and I’m now really looking forward to taking advice from others. Yes, my experience means I’m in the ideal position to robustly challenge the advice trustee boards I sit on are given, but it also means I understand the real benefit of that advice.

Collaboration is vital

Developing a real sense of collaboration with your fellow trustees means everyone feels part of a trustee board acting in unity. Together you feel part of a whole - and this helps ensure everyone has input into the decision making process and everyone understands the advice they receive.

The idea of collaborating with yourself as a sole trustee always makes me smile but collaboration is still important, even in sole trustee cases. You still need to collaborate with your colleagues who help support each client, with pension advisers and the pension scheme sponsor.

Over my years as a pension scheme actuary, I’ve seen a massive range of problems and challenges. I see my role now is to use this experience to help the pension trustee boards of the future address and solve the problems and challenges they face. By helping co-trustees take, challenge and analyse the professional advice we receive, we can reach the right decisions to protect and deliver benefits for our scheme members.

Being a professional trustee isn’t completely new to me – I have actually been one for several years. Having it as my main and only role is new and I’m looking forward to working with new pension trustee boards and advisers from across the pensions industry with this different hat firmly on my head!

Watch an interview with Stuart here

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