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Objectives of the Trustee

Discussion in 'SP4' started by Steve85, Sep 21, 2016.

  1. Steve85

    Steve85 Member

    Hello

    I'm quite happy that I've got the objectives of employer, state and individual down to memory, however I was wondering if there was a similar list for Trustees? Other than using common sense I'm not sure if there's an exhaustive list around for Trustees? During my study I thought I might have seen it somewhere, possibly in a past exam question, but looking through my notes/marked assignments I've not managed to find anything.

    If anyone can point me in the right direction that would be great.

    Cheers

    Steve
     
    Steve85, Sep 21, 2016
    #1
  2. rave23

    rave23 Member

    From the SA4 notes the objectives of the trustees of a pension scheme are as follows:

    Have regular meetings to discuss the scheme
    Manage any conflict of interest
    Financing benefits that need to be paid to members
    Administration of the scheme
    Manage any discretionary benefit practise
    Manage and measure performance of advisors
    Manage and invest assets

    I hope this helps
     
    rave23, Sep 21, 2016
    #2
    Steve85 likes this.
  3. Gresham Arnold

    Gresham Arnold ActEd Tutor Staff Member

    Nice points :) A few more that are applicable in some questions:
    - ensure security of benefits
    - operate within trust law
    - act in the interest of all members
    - maintain support of sponsor, where possible
    - delegate duties appropriately
    - not profit from duties
    - maintain confidentiality.

    Hope that helps
     
    Gresham Arnold, Sep 22, 2016
    #3
    Steve85 likes this.

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