Professional trustee services staff posing for a photo

Professional Corporate Sole Trusteeship

It is questionable whether many small employers should have had a DB scheme in the first place, but many do with assets under £50m.

They can be a disproportionate drag on the ability of the employer to run their business. Smaller schemes require very pragmatic trusteeship and strong cost management and often, scheme rules will allow an employer to appoint a corporate trustee, such as ITS, to act as a sole trustee.

This is a big cultural step as it severs the link between the trustee board and the employer but with most DB schemes no longer part of the future HR strategy, it makes sense in many cases. We have a specific governance structure around our sole trusteeships with clear delegated authorities. All material decisions are taken by two directors so that sole trusteeship does not equate to one person.

WANT TO FIND OUT MORE?
For more information on our Professional Corporate Sole Trusteeship service, speak to Akash Rooprai or see our Case Studies.

LATEST SOLE TRUSTEESHIP NEWS

ITS delighted to support the new Code for Sole Trusteeship

22.10.20  |  News and Views

With the creation of the APPT, and the introduction of the Standards for Professional Trustees of Occupational Schemes and Accreditation through examination, huge steps have been taken to ensure the highest standards of trusteeship across the UK.

The popularity of Professional Corporate Sole Trusteeship

08.1.21  |  News and Views

Sole Trusteeship is growing and looks set to continue. There are drivers for this, but some are concerned about this development resulting in higher costs, more employer focus than member focus and the potential for trustees to go unchallenged.

Helping with the challenges of running a DB Scheme – mentoring lay trustees

27.3.20  |  Case Studies

We were approached by the sponsor for a poorly funded scheme with significant legacy issues; they wished to move the trustee board for the pension scheme to a sole trusteeship model in order to improve governance.

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