The obligations placed on trustees are a complex mix of Trust Law, Pensions Act 1990 and the scheme's own Trust Deed and Rules. Additional responsibilities arise under other legislation such as equality, family law and data protection. Each of these areas is often complex in isolation. However, how they interact to form a framework of best practice for pension schemes trustees can be even more challenging.
Dedicated Trustee Services bring unique expertise in relation to the interpretation and carrying out of duties under Trust Law.
We have hands-on experience in the day to day management of pension schemes as well as legal expertise in Trust Law.
This experience and our independence will enable us to provide solutions to the potential complexities of trust law such as:
Which course of action best represents the interests of each group of beneficiaries?
How do I manage potential conflict between various groups?
How do I allow for my own potential conflict of interest as employer and trustee?
When do I call on external advisers and how do I manage them?
The Pensions Act sets out in some detail the extensive roles and obligations of pension scheme trustees. Dedicated Trustee Services can meet these obligations in an efficient and cost effective way, such as:
Dedicated Trustee Services operate a very efficient process that ensures all important scheme deadlines, reporting dates, transactions and trigger events are adhered to. This ensures compliance with the administrative obligations of the Pensions Act in a timely fashion.
In the critical area of trustee investment responsibilities, Dedicated Trustee Services bring a wealth of expertise - from the interaction of risk and return in devising appropriate investment strategy to the appointment and monitoring of investment managers.
Dedicated Trustee Services have considerable experience in dealing with service providers. We operate a Service Level Agreement with the registered administrator to cultivate a good working relationship and manage delivery of service.
Dedicated Trustee Services have considerable expertise in the drafting and interpretation of scheme trust documents. We are very experienced in the interpretation of these documents, amendments required to reflect scheme and legislative changes and how the documents interact with other Trust Law and the Pensions Act 1990.
Trustees are required to comply with other pieces of legislation such as Equality Law, Family Law and Data Protection. Dedicated Trustee Services have specific legal expertise in all of these areas which makes us unique in the trustee market. For example, one of directors regularly advises on compliance with pension provisions in family law matters such as divorce and separation.
Contact Us At DTS With Any Questions