We were delighted to read a terrific article from our friends at Muse Advisory on why independence matters in Pensions. We couldn’t agree more.
There are real concerns in the wider industry about the consolidation in the number of independent trustee firms, especially where those firms deliver many different governance and scheme services to a scheme without appropriate checks and balances. Inevitably, there will be conflicts of interest and a lack of diversity of thought and opinion. BESTrustees is 100% owned by its employees in a way that protects us from acquisition and frees us from third-party commercial influence.
Read the whole article on the Muse Advisory website by clicking here.
Latest Insights
BESTrustees, WTW and Royal London complete £16m BPA transaction for the Premdor Crosby Pension Plan
BESTrustees’ pension scheme client, the Premdor Crosby Pension Plan, has completed a £16 million bulk purchase annuity (BPA) transaction with Royal London, the UK’s largest mutual life, pensions and investment provider. The Trustees were advised by WTW and Pinsent Masons under a sole insurer quote process. Royal London was advised by Hogan Lovells. This buy-in, which covers 181 members, is the first that Royal London has completed with BESTrustees as Chair of Trustees, and also with WTW on a scheme that is not one of their own staff pension arrangements. This buy-in also marks the first time that Royal London …
Raising professional trustee standards as TPR plans oversight
An interesting article in Pensions Expert from Andy Boorman, BESTrustees’ director and member of the Society of Pensions Professionals, in which he explains the importance of the regulator’s work on trusteeship and how independence and lack of conflicts can raise standards in professional trustee work. As a profession, we must engage fully with the regulator’s review of oversight in the professional trustee industry and work to define a template for professional trusteeship which serves all stakeholders well. At the heart of everything has to be the overarching principle of independence in our conduct and decision-making in order to secure good …
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