The latest tPR research emphasises again the need for all schemes to raise governance and trusteeship standards to deliver good outcomes for members.
In September, tPR published research for both DB and DC trust based schemes. A key part of this is its findings on Scheme Governance and the 21st Century Trusteeship Campaign. The Regulator notes that although there have been some improvements in governance over the past year, there are some areas for concern, particularly in relation to small and medium sized schemes. Examples are that:
• One third of trustees had no documented conflicts policy and no register of interests for the trustee board.
• Only 58% of trustees publish and maintain a clear policy for assessing the fitness and propriety of individuals appointed to the trustee board.
• Only 9% of DC schemes meet all nine of the standards that the 21st Century Trusteeship campaign focuses on.
The short document on this page summarises ten key themes which tPR has outlined to highlight the expected governance standards of 21st Century Trusteeship.
Download our report 'Trustee board effectiveness' for more insights.