If you act as a sole trustee on a scheme this can pose risks to members in some circumstances. Therefore, we may place greater scrutiny on schemes with sole trustees.
If you are a professional pension trustee we expect you to show a greater level of knowledge and meet higher standards than other trustees.
We consider a professional trustee to be a person whose business includes trusteeship. Someone will normally be considered a professional trustee if they have represented themselves to one or more unrelated schemes as having expertise in trustee matters generally (rather than just in certain areas).
We are unlikely to consider you to be a professional trustee if both points 1 and 2 below apply.
If you’re not sure if you are considered to be a professional trustee, read our description of a professional trustee:
We expect professional trustees to achieve the standards for professional pension trustees.
We also expect professional trustees to gain accreditation to show that they meet the standards. Read more about the professional trustee standards and the accreditation framework that is being set up.
If you meet the description of a professional trustee you need to tell us you are a professional trustee on the scheme return.
If you act as a sole trustee on a scheme this can pose risks to members in some circumstances. Therefore, we may place greater scrutiny on schemes with sole trustees.
