Client feedback


Ann and her team are very knowledgeable and proactive, liaise well with our other advisers and provide the Trustees with an invaluable secretarial service.
Ian Edwards,
Chair of Trustees, Comet
The Trustee Training course is very good. Excellent coverage of material presented in an easy-to-digest manner and quality of presentation by both presenters.
Jonathan Williams ,
Bangor University
​Ian has added more value than we thought he would at the start… which shows it pays to go with someone who is doing the job of a professional trustee as their bread and butter.
Katherine Cross,
Tyser
​They are very proactive and full of new ideas, they've brought better scheduling and better minute sets.
Paul Rudd,
Express Newspapers
So much more proactive than the previous company. On the ball - thinking in advance of things needing doing - very proactive.
Paul Rudd ,
Chairman of Trustees, Express Newspaper
It’s a pleasure working with key members of the PSGS team: their experience and leadership means that they know how to get the job done, working in partnership with fellow trustees, employers and advisers to achieve the best result for members.
Mark Smith,
Partner at Taylor Wessing
image for Appointing a sole trustee | Sole trusteeship

Sole trusteeship

It is increasingly hard to find committed and qualified trustees, so more and more pension schemes are appointing a sole professional trustee. This can be a cost-effective solution with sponsoring employers benefiting from regular, open (but challenging) dialogue.

Why appoint a sole trustee?

Our sole trustee schemes are defined benefit (DB), defined contribution (DC) or hybrid and many face common complexities and challenges, for example:

  • Agreeing a recovery plan that balances the interests of member security with sustainability of the pension scheme sponsor.
  • Implementing an investment strategy that reduces volatility but takes into account the sponsor’s risk appetite.
  • Experience of poor service standards or risk averse advice leading to high costs and/or ineffective solutions.
  • Past administration and documentation failings leading to incorrect benefit calculations, over/under payments that need to be dealt with and decisions to be made over potential litigation.
  • Ensuring value for members (VFM) in relation to DC benefits including an appropriate suite of investment choices and default fund to provide members with a good outcome.
  • Improving member communications so they can better understand and appreciate their options and benefits.
  • Complex historic benefit structures.
  • Ongoing litigation against a legal adviser, consultant and scheme actuary.
  • Escalating advisory fees that need to be better managed.
  • Handling complaints via the IDRP, from TPAS and the Pension Ombudsman.

Download the pros and cons of sole trusteeship

Taking away the governance, day-to-day operations and cost of a full pension trustee board and replacing it with a skilled, dedicated professional sole trustee can make it a lot easier and efficient for everyone. An experienced sole trustee establishes the right focus and governance, provides wide market knowledge to draw on and ensures an effective working relationship with the pension scheme sponsor.

Example sole trustee appointment

Read the full case study

The value of a team

We have a knowledge sharing, team based approach that ensures at least two named individuals will have a detailed knowledge of your pension scheme. It means someone will always available to respond to queries, manage the advisers and progress trustee business - you are never dependent on one person.

To discuss whether a sole trustee appointment is the right route for your pension scheme, please contact us.

Speak direct to our specialist in this area

Picture of James Double independent trustee at PSIT

James Double

Head of Trusteeship

Or call us on:

0845 313 0024

Read more

The pros and cons of sole trusteeship

Why move to sole trusteeship?

Hot topic

We’re all professionals, right?

Opinion

Is a sole trustee the right choice?

Blog

Is AAF just a tick box exercise for the Pensions Regulator?

Case study

Developing a long term strategy with a scheme sponsor

De-risking research

Read PSGS’ de-risking survey results

Funding & investment

It’s like asking the Queen to direct the government over Brexit


Call: 0845 313 0024

online enquiry