Client feedback


When requesting information by email, I have noticed that there is 'out of hours activity' to answer me. I regard this as a stand out 'above and beyond' - impressed.
The trustee training course lecturers' explanations and willingness to answer questions were most valuable - even silly ones - although I have learnt there are no 'silly questions' that trustees should ask.
Anonymous
PSGS was chosen because of their knowledge of the subject and awareness of our particular schemes.
George Batho ,
Trustee, Lansing Linde
​We are extremely pleased with the appointment we made. The way Ian reacts to us and works with us is brilliant. We are very happy.
Katherine Cross,
Tyser
As a pensions novice, I felt that the trustee training course gave me a good grounding.
Will Court
​I enjoy working with PSGS and we have a very positive relationship. I was new to pensions and found them very helpful.
Bruce Allison,
RTUK
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

The sole trustee shift

Case study

Sole trusteeship & a successful small scheme buy in

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

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