Where a Scheme's Trustees do not wish to appoint an Independent Trustee to their Board we can still support the trustees by being appointed to sit on Trustee Committees.
Schemes wishing to appoint BESTrustees in an ancillary capacity may do so for a range of reasons. This could be on an on-going basis or for a short-term appointment such as supporting the Trustee Board in the preparation of and execution of a major transaction or when pension schemes and their trustees are experiencing periods of profound conflict of interest.
Acting in an ancillary capacity means we are able to support the Trustees in their decision making around complex issues, including difficult funding negotiations and transactions. We can also assist the Board to develop the criteria for the selection and appointment of other advisers to the pension scheme, bringing to bear our extensive experience gained over many years in acting as Trustees and as Chair of Trustee Boards. We have worked with all sizes of schemes facing all sorts of challenges - if it has happened in the pensions world, we have not only seen it, but we have been a part of it.
Statutory Independent Trustee
We also provide statutory independent trustees, a legal requirement where the sponsoring employer is insolvent. Our knowledge of active schemes means we are well placed to give practical advice to schemes of insolvent employers as a statutory trustee, overseeing their management or wind-up and making sure that members' interests are properly safeguarded.