Atkin trustees, actuaries, consultants & administrators

Independent Trustee

Why appoint an Independent Trustee

More and more pension funds are recognising the benefits of introducing an Independent Trustee to the board. Here are some of the reasons why;

Independent

  • Objective and no conflicts
  • Reassurance for members
  • Validates decisions by other Trustees
  • ‘Negotiator’ between employer and others

Time Commitment

  • Existing trustees may lack time and resources to dedicate to the job. Their main job may be to run the company, the pension scheme can distract from the aim of making money.
  • Increasing Knowledge and Understanding requirements from The Pensions Regulator

Expertise

    • In depth and up to date governance and regulatory understanding
    • Experience of other schemes and how they resolved issues
    • Strong relationships with the regulatory bodies

    Cost Control

    • Experienced at running other schemes so able to introduce efficiencies and control/reduce costs
    • Experience with advisors so advice sought only when necessary and at a reasonable fee
    • Ensuring continuity and stability on the Trustee board where there may be frequent changes in company and member nominated trustees
    • Removing the need for separate trustee indemnity insurance where we are appointed as sole independent trustee

    How do we do it

    Our approach is fundamental – to ensure the security of members’ benefits whilst working with the company to find the most efficient way of funding the scheme. TPRs Code of Practice on funding DB schemes recommends an integrated approach and open, honest relationships with the principal employer. We believe in being constructive not obstructive.

    Our trustees have extensive experience dealing with a variety of pension scheme needs and situations;

    • Ongoing schemes, either as sole trustee or with other trustees
    • Short term appointments during corporate reorganisation, M&A activity
    • Schemes in wind-up. Both DB and DC
    • Schemes in a Pension Protection Fund Assessment Period
    • Temporary appointments covering conflicts of interest

    In addition to Independent Trustee services, we are also able to provide advice and support in problem cases, give focused trustee training and carry out governance, administration and advisor reviews.



We should like to record our complete satisfaction when working with Atkin & Co. We have always relied on your sound advice and found working together has been a partnership which we have greatly enjoyed. Your staff are friendly, efficient and do an excellent job. Contact with you is dealt with promptly and courteously with the minimum of fuss, work is always expertly and professionally completed and we are very pleased with the result.

Reg, Independent Trustee client