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Historic Introductory Trustee Training Seminars
The need for proper trustee training was more important in 2002 than ever before. The Pensions Act 1995 and subsequent legislation placed significant responsibilities on trustees and imposed penalties if these were not met. This one-day seminar provided an introduction to trusteeship for new or potential trustees and, in addition, it was a useful refresher for existing trustees on their duties and obligations.
The seminar was also designed to provide training for those who wished to take the PMI (The Pensions Management Institute) examination for the Trustee Certificate of Essential Pensions Knowledge, the recognised qualification in the UK for pension scheme trustees.
The objective of the seminar was to provide trustees with the knowledge and essential understanding to enable them to fulfil their duties with confidence. By the end of the day, delegates were well prepared to undertake their role and make a real contribution to trustee business. In particular, the seminar enabled trustees to:
- Understand the structure of pension provision in the UK.
- Broaden their understanding of what makes a good trustee.
- Learn how to exercise legal powers, duties and discretions.
- Make the most of their advisers and "ask the right questions" at meetings.
- Become familiar with the language and actuarial fundamentals of funding and investment strategy.
Barnett Waddingham, November 2001.