Client feedback


​Their pragmatic approach helps with quick and easy decision making. Another approach might have made things more difficult.
Mark Assinder,
Bouygues
I wanted to look at the effectiveness of our trustee board, so Gillian, our PSGS scheme secretary, provided their trustee self-assessment tool to help me gather thoughts and opinions from others on the board. The tool was extremely easy to use and asked all the right questions to help me collect the information I needed as Trustee Chair. It is a great example of the way PSGS shares knowledge with their clients and makes dealing with key governance issues easy. As well as enabling me to meet one of the Regulator’s 21st century trusteeship requirements, using the tool has flagged trustee training needs and ways we could improve trustee meetings further.
Claire Silvester,
Vector Aerospace
Ever increasing regulation has placed a heavy burden on trustees both in terms of time and the risk of non-compliance. PSGS has the experience and the resources to help trustees manage these burdens.
Mark Atkinson,
Partner at CMS Cameron McKenna
PSGS were overall more professional than others.
Paul Staniland,
Kier
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
Very professional and engaged service.
Danny Nussbaum,
HR Director, Volvo
image for Appointing an independent pension trustee | Need for professional trustee

Why use a professional pension trustee?

There are clear times at which an occupational pension scheme or sponsoring employer should consider appointing an independent pension trustee.

They include when:

  • there is a gap in your pension trustee board’s knowledge or experience that needs filling - particular expertise may be needed in, for example, pension investment, buy-outs , pension scheme governance, scheme wind up etc
  • additional support is needed to deal with legislative or regulatory requirements, such as creating and maintaining an integrated funding and risk management plan
  • demonstrating you have independent expertise on your trustee board would be beneficial for relationships with pension members and other key stakeholders

Alternatively, you may find yourself in one of these five common situations that have led clients to appoint an independent trustee from PSGS:

  • Conflicts of interest – this is often an issue for employer-nominated pension trustees during pension scheme funding and recovery plan negotiations, or during a corporate deal that might impact the strength of the employer covenant.
  • Fundamental change to the pension scheme benefits - a typical example is when the sponsoring employer wants to close a pension scheme to future accrual, as it is important the company does not have undue influence on the pension trustees’ decisions.
  • Poor adviser performance - when the sponsoring employer or pension trustees feel they are not receiving the best service or advice, or when your pension scheme costs appear to be spiraling out of control.
  • At or following a formal actuarial valuation - when a pension investment review is about to start, familiarity with asset and liability studies and knowledge of the wide range of investment options available to pension schemes becomes crucial.
  • Insufficient time – for many pension schemes, especially those closed to future accrual, existing trustees often simply don’t have enough time or the motivation to deal with the legacy arrangement. Appointing PSGS as sole trustee removes the burden and responsibility for managing the pension scheme from them.

If you would like to talk through how we can help with 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

Free self assessment tool

How effective is your trustee board?

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We’re all professionals, right?

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Case study

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PMI News article

Assessing trustee board performance


Call: 0845 313 0024

online enquiry