Sackers comments on trusteeship consultation

Against the backdrop of a changing pensions landscape, the DWP today published its highly-anticipated consultation on Trustees and governance, building a stronger future.

Lucy Dunbar, partner, comments: “Trustees are at the helm of every pension scheme, ensuring that the wheels turn smoothly and that members’ benefits are delivered accurately and on time. A consultation which supports good standards of trusteeship and recognises the importance of administration in well run, well governed pension schemes is warmly welcomed.  The key question is how to harness best practices in trusteeship and administration and ensure that pension schemes and their members, both now and in the future, benefit from both.

Trusteeship comes in differing forms, ranging from professional through to lay, as well as some variations in between. Likewise, pension schemes increasingly come in any number of different shapes and sizes, from more traditional employer-sponsored arrangements through to DC master trusts and DB superfunds. Recognising such a broad array and the complexities involved is the real challenge for today’s consultation. It will therefore be interesting to see how the Government’s proposals evolve, with some careful navigation needed to help ensure high standards whilst accommodating so many vehicle types.”