Trustees of occupational pension schemes now have a statutory duty to ensure that they have an adequate knowledge and understanding of the legal issues relevant to their scheme. They must also ensure that they are up to date with relevant changes in the law, which given the volume of pensions legislation and regulation and other demands on their time, can be difficult.
With this in mind, our regular "TKU" is aimed specifically at pension scheme trustees and letting them know what has changed in the last quarter and how it might be relevant to them. It highlights key issues without getting bogged down in the detail.
The latest edition of TKU can be read here.
In addition, should the level of trustees' knowledge and
understanding of legal issues ever be challenged, it is useful for
trustees to be able to show what steps they have taken to keep
themselves informed of developments. One way of doing this would be
to attach TKU to the agenda for quarterly trustees' meetings
and then minute any issues which it covers which are relevant to
the scheme and how it is intended to deal with them.
If you are a new trustee and are seeking a basic introduction to pensions and trust law rather than just keeping up to date, you may be interested in our trustee training course. Please speak to your usual Cameron McKenna contact for details.
This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq
Law-Now information is for general purposes and guidance only. The information and opinions expressed in all Law-Now articles are not necessarily comprehensive and do not purport to give professional or legal advice. All Law-Now information relates to circumstances prevailing at the date of its original publication and may not have been updated to reflect subsequent developments.
The original publication date for this article was 06/02/2012.
