Who looks after the Scheme?
A board of Trustee directors are appointed to manage the Scheme.
Maintaining and running a pension scheme is a complicated and demanding process, with many regulations and legal requirements that have to be adhered to. The main responsibilities of the Trustee board are to:
- safeguard the assets of the Scheme; and
- ensure that the correct benefits are paid at the correct time.
The Trustee board regularly meets to manage the Scheme and to ensure they are fulfilling their responsibilities.
The Trustee board are supported by a range of specialists who advise on technical issues such as pension funding, investment and pensions law.