Pension Scheme Trustees and Advisors


 

Pension scheme trustees fall into 2 categories:


Laypersons & Professionals


Lay Trustees will typically be drawn from the sponsoring company’s employees who are scheme members, and perhaps retirees.  These trustees will often reflect different employment levels within the organisation, for example ranging from shopfloor to management to directors.


Professional Trustees are those whose career is in pension scheme trusteeship.  They usually hold professional qualifications and will previously have acted as advisers within the pensions/benefits sector.  Some trustee boards only have professional trustees – these are known as Professional Sole Trustees.


 

The Trusted Partner for Pension Trustees and Advisers

Optima's Professional Expertise

Irrespective of ‘rank’, a common denominator is trustees’ willingness to accept and abide by the responsibilities entrusted to them.  One of their key functions is to appoint relevant advisers to help them make good decisions concerning the funding and delivery of scheme benefits.


Advisers will invariably include solicitors specialising in pensions law; actuaries; and investment experts or fund managers.


All trustees have a duty to safeguard the interests of pension scheme members, including Employee Benefits, ensuring that the right benefits are paid to the right person at the right time.

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Case Study:  Pension Scheme X appointed PAN Trustees as its Professional Sole Trustee; the scheme is operated by a family owned engineering firm.  While closed to future accrual, the scheme still provides Death-in-Service pension benefits for members who remain employed, in addition to Death-in-Service lump sums to all employees.  PAN Trustees decided to review Employee Benefits, requiring a specialist broker to assist.  Following a rigorous ‘beauty parade’ Optima was appointed, delivering a bespoke value for money service meeting the needs of all parties.

Our 40 Years of Fulfilling Obligations

In addition to retirement provision, good employers will normally offer benefits such as Death-in-Service, Group Income Protection insurance, and Private Medical Insurance.   Many schemes will also offer valuable ‘add ons’, for example dental and optical specialities.


Whichever particular Employee Benefits are provided, it’s important that Trustees appoint experienced experts in this field. For 40 years Optima has been expertly assisting Trustees discharge their duties and fulfil their obligations.

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Audit Service

Our Audit Service identifies potential flaws or omissions in existing Employee Benefit arrangements, giving company officers the reassurance of knowing their schemes are robust, compliant and protected.

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With decades of experience advising on mergers, acquisitions, MBOs, EOTs and other major corporate changes, we provide expert Employee Benefits advice when it matters most, making it the Dealmaker’s choice.

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Pension Trustees

Optima supports Pension Scheme trustees and advisers in fulfilling their responsibilities and protecting members’ benefits, providing expert and professional Employee Benefits guidance backed by 40 years’ experience.

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