It’s easy for people outside of the pensions world to imagine that the role of scheme secretary is largely made up of arranging lunches, meeting rooms and taking notes. However, far from the in-depth and highly important role that has become a recognised.
Conflicts of interest have long been part of the trustee/employer environment. However, the scope and meaning of what type of conflicts could arise has developed and broadened as governance best practice evolved.
TPR carried out research which identified that many schemes were not being run to the standard expected by TPR. On the back of these findings TPR initiated an education program which was given the name of “21st Century Trusteeship”.