Introduction to trusteeship Part 1 The theory

Introduction to trusteeship Part 1 The theory Navigate to ...


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Find out about your scheme

What sort of pension scheme you are going to be a trustee for? I.e. is it a Defined Benefit or a Defined Contribution scheme or will you be a trustee of both? (If you don't know the answer, ask the pension scheme manager or someone who has already been a trustee for some time).


To try and ensure you get exactly what you need from your course, we would like to know a little more about you, your scheme and what you want to learn before you attend. Please complete the pre-course survey.



So you are familiar with the topics we plan to cover we start off by discussing the parameters of the trustee role. Once we have explored the basic principles we focus on how pension schemes are financed, including highlighting the processes adopted to manage finances. Trustees are responsible for their scheme's investments, albeit they will generally delegate the day-to-day management to an investment manager. We also focus, therefore, on key aspects of their investment responsibilities.

As much of the trustee role centres around accountability and good governance the course introduces you to the areas where trustees have to provide information about their activities and when they need to communicate direct to scheme members. We also focus on the governance activities now required for defined contribution schemes and explain why it is important to communicate effectively with advisers. Time is also given to the reporting trustees should receive.

Talking to employees

One important point to note is that people who give advice to another person or organisation about financial or investment matters must be authorised.

So if after attending this course you will be helping others with their finances or investments it's important you know what the rules are. Here's a useful guide:  

After this course you will be able to:

  • List the main pension trustee duties, responsibilities and powers and to explain how trustees aim to protect themselves against legal challenge.
  • Classify the main advisers trustees normally use and identify the nature of advice each category of adviser provides.
  • Inform others what actions trustees must take to execute the trustee responsibility of collecting pension contributions.
  • Explain to others, using facts described during the course, how workplace pension schemes are financed and how they value their assets and liabilities.
  • List key issues for pension scheme trustees to consider when taking decisions about the investment of pension scheme assets.
  • Name key actions pension scheme trustees should carry out they if they wish to exhibit good governance in their pension scheme.