Pension Trustees

Pension Trustees are accountable and even personally liable for their action and the associate operation and control of their pension schemes.

The likelihood of liability as a pension trustee has increased in recent years and regulation has become more stringent. Pensions Trustees are governed by both case law and The Pensions Act 1995, under the act trustees have both powers and responsibilities to oversee a pension fund and meet strict guidelines.

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A trustee who is in breach of their obligations can be personally liable to both civil and criminal proceedings.

A  trustees duties include:

• Minimum Funding Compliance
• Obtaining proper investment advice
• Not to personally profit from the operation of the fund.
• Obtain regular valuations

Who sues a Pension Trustee?

• Beneficiaries
• Members
• Regulators and Pension scheme auditors