This week, F&C investments published their 2013 Independent Trustee Survey. Over 100 Independent Trustees gave their views on a number of issues that effect pension schemes in the 21st century.
One of the key questions posed was “what is the biggest challenge facing lay Trustees”? Just over a third cited insufficient knowledge; a third cited increased regulatory demands while a further third just said they had insufficient time to fulfil their role as a Trustee.
Perhaps as a result of these views there has been an increase in professional Trustees being appointed, a fact that does not probably surprise anyone within the industry. Nearly half of the respondents said that the rise in regulatory demands have led to this increase. Again a fact that is not surprising if you take a moment to reflect on the changes that have been made in the past 5 years and the constant overhauls that have been made to pensions by successive governments. Read more »