The actuarial profession has expressed its concerns over the Myners
report's approach to the role of trustees in smaller pension schemes,
claiming it takes a “one size fits all” approach
The Faculty of Actuaries says a number of the proposals outlined in the
report seem impractical and inappropriate for smaller pension schemes.
The faculty believes proper training should be made available to trustees,
with a focus on ensuring that enough time is made available to both
member-nominated and management-appointed trustees to carry out the job
properly.
President David Kingston says: “While the profession generally welcomes
Myners' recommendations on the role of trustees, they need modification for
medium and smaller-sized schemes.”
