Professional Trusteeship - Our Approach
In carrying out our professional trustee appointments we seek to:
- Work constructively with our co-trustees through discussion and persuasion;
- Promote the considerable community of interest of employers and members;
- Monitor and control risks;
- Add value by the effective use of professional advisors and administrators;
- Be professional and proactive at all times.
Before accepting an appointment, we will carry out a due diligence exercise. This identifies any issues that will need to be dealt with following our appointment. Once agreement has been reached with our co-trustees and, if appropriate, any employers as to how to deal with these issues, we will then accept an appointment.
Once appointed, we seek to ensure good governance of the scheme through:
- Adequate funding;
- Appropriate investment of the assets relative to the liabilities;
- Cost effective and efficient administration;
- Compliance with relevant legislation and governance standards.
This is achieved through an ongoing review of these areas, both outside of and within trustee meetings.
