why should I consider appointing a professional pension
scheme trustee?
An professional trustee can provide:
- reassurance - for scheme members in the face of current
uncertainties and concerns, increasing complexity and greater
demands on trustees personally
- a solution to conflicts of interest - for company
executives who are also trustees of defined benefit schemes where
the company faces funding shortfalls or changing or
terminating the scheme
- experience and knowledge - to help the other trustees
understand the key issues
- efficiency and value for money - staff costs and training
costs mean it can be cheaper to appoint one professional
trustee rather than a number of individuals
- strategic thinking - ensuring limited company
resources are earmarked for on-going operations where a company is
replacing a defined benefit arrangement with a defined
contribution for the future
- alternative thinking - many schemes are now closed to
accrual and need to be viewed as short-term arrangements, with an
approach intended to allow eventual winding-up of the scheme in a
cost-efficient manner.
An independent trustee can also be appointed by the Pensions
Regulator when a company goes into administration, receivership or
liquidation.
why choose Blake Lapthorn Pension Trustees Limited?
We are one of the few law firms who have created a specialised
unit that provides the services of independent trustee for your
pension scheme. Blake Lapthorn Pension Trustees Limited
offers:
- a multi-disciplinary team, supported by the resources of
a substantial, multi-practice law firm
- a partnership approach to our work with other trustees,
employers and pension scheme members
- a commercial approach, tailoring what we do to the needs
of the scheme and other trustees, from a guiding role to being more
hands-on and assuming greater responsibilities
- focus on helping the scheme to meet its
objectives
- training or other support to assist co-trustees to comply
with the Pension Regulator's knowledge and understanding
requirements
- experience of winding-up pension schemes makes Blake
Lapthorn Pension Trustees Limited an ideal choice to project manage
the winding-up of closed schemes.
We can take on appointments where trustees have been
removed or where an insolvency practitioner or the official
receiver is appointed.
