Sole Trusteeship

Managing a pension scheme is an increasingly difficult and complex job. Trustees and employers must keep up to date with a dizzying list of changes, demands for expertise and new regulations.

In the areas of governance, investment and high-value decision-making,  uncertainty and mistake can have consequences for scheme members.

Sole trusteeship is a new model that removes those problems by using an expert professional trustee. This person assumes responsibility and accountability for all governance activity in the scheme. This streamlines decision-making, ensures urgent scheme matters are dealt with quickly, avoids conflicts and may reduce adviser costs.

BESTrustees is one of the UK’s leading providers of sole trusteeship, and sole trusteeship now accounts for a third of our scheme appointments. Robust governance is crucial to the success of sole trusteeship. BESTrustees’ model draws on our 30 years of experience, coupled with the highest standards of governance. We recognise the benefit of linking a scheme secretarial service to the independent trustee, especially in sole trusteeships. We use a specialised third-party scheme secretary provider to plug in a scheme secretary function.