Appointing a professional trustee takes the administrative burden of running an occupational pension scheme off your shoulders.
Running an occupational pension scheme has always been a complex business, and it’s increasingly tough for companies and trustees to devote enough time to their schemes.
What do we do?
Schemes used to be a key part of a company’s employee benefit package. However, these days many are focused on managing legacy liabilities. It’s also getting harder to find employees who are willing to take on the fiduciary responsibility that comes with being a trustee. That’s where sole independent trustees come in.
We’ve been acting as sole independent trustees to pension schemes since we founded Entrust in 1994. That experience means that all our procedures are designed to allow us to take on full responsibility for running a pension scheme, while ensuring that stakeholders stay engaged at all times.
Our team-based approach to trusteeship is backed by a robust governance structure that provides peer-review of all significant decisions. Each trustee appointment is led by an experienced Trustee Director, supported by a dedicated Trustee Associate. What’s more, we protect stakeholders’ interests by adopting the highest standards of governance encouraged by the Pensions Regulator.
Regular reporting and consultation
Outsourcing the governance of a scheme to a third party is a big step for many companies. That’s why we tailor our approach to the circumstances of each scheme and set up bespoke reporting and consultation arrangements to meet all needs.
Succession planning for trustees is one of the biggest challenges facing schemes today. By tackling this issue at an early stage, we can put in place transitional arrangements for appointing a sole trustee which allow everyone involved to feel comfortable working with a professional trustee.
Who do we help?
We help any organisation that has a defined benefit pension scheme. When acting as sole trustee we work particularly closely with finance directors and owner-managers to enable them to spend more time running their businesses.