Home > News > 2005 > August 2005 > Historic Trustee Training and Investment Seminars Autumn 2005
Historic Trustee Training and Investment Seminars Autumn 2005
For historical purposes we have left details of past Barnett Waddingham LLP seminars on the website.
Trustee Knowledge and Understanding
The need for proper trustee training is more important today than ever before. The Pensions Act 2004 will place significant new responsibilities on trustees and there are potential penalties if these are not met. Our trustee training course provides an introduction to trusteeship for new or potential trustees, as well as being a useful refresher for existing trustees on their duties and obligations.
The course, which is in two standalone parts, has been designed in accordance with the Pensions Regulator's guidelines for trustee knowledge and understanding and in order to provide training for those who wish 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 course is to provide trustees with the knowledge and essential understanding to enable them to fulfil their duties with confidence. By the end of the course, delegates will be well prepared to undertake their role and make a real contribution to trustee business. In particular, the course will enable trustees to:
- Understand the structure of pensions provision in the UK.
- Broaden their understanding of what makes a good trustee.
- Learn how to exercise legal powers, duties and discretions.
- Consider the new obligations introduced by the Pensions Act 2004.
- 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.
Investment Seminar for Trustees
One of the most important duties of a pension scheme trustee is managing the scheme's investments. The Myners review of UK institutional investment controversially stated that trustees often lack the resources and expertise required to make informed judgements.
Following that review, the Government has recommended raising the duty of care for trustees, requiring them to be familiar with investment matters when making decisions. The Government has further recommended that "where trustees elect to take investment decisions, they must have sufficient expertise and appropriate training to be able to evaluate critically any advice they take".
Barnett Waddingham has designed this one-day investment training seminar in order to provide trustees of defined benefit (and in particular "final salary") pension schemes with the knowledge required in order to appoint, manage and monitor their investment managers. In particular, the seminar will enable trustees to:
- Broaden their understanding of how to develop an investment strategy.
- Provide a greater understanding of the investment essentials needed to carry out their duties.
- Learn how to manage their investment manager and "ask the right questions".
- Become familiar with the language and fundamentals of investment management.
- Assimilate and discuss some current investment issues.
Barnett Waddingham LLP, August 2005.