Trustees have a tough job. Defined benefit pension schemes are complex and trustees have a lot of responsibilities on their hands:
- Making sure scheme members get the benefits they’re promised, when they’re promised, and that members understand their options
- Investing funds to get good returns without too much risk
- Agreeing funding plans to get enough money into the scheme without putting the sponsoring employer or its future plans at risk
- Complying with fast-changing legislation, and being able to demonstrate compliance to the Pension Regulator at any time
- Balancing day-to-day work with pension responsibilities.