New report offers unparalleled insight into state of trustee community
Pardon the Interruption
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The mallowstreet Trustee Report is out now!
mallowstreet, in partnership with the Association of Member Nominated Trustees (AMNT), Pensions and Lifetime Savings Association (PLSA) and the Pensions Management Institute (PMI), surveyed the trustee community in August and September 2019 to highlight the challenges the sector faces.
The report is broken down into three sections covering; Diversity, Governance and Outcomes, drawn from 200 qualified responses.
Trustees are responsible for the financial futures of over 76% of the working population in the UK, and the only constant in their lives is change - in professional requirements, regulation, markets, yields, macro and political risks. Yet, very little time is spent identifying the issues that act as a barrier to trustees securing the best outcomes for their members.
The Trustee Report aims to help our industry grow and evolve so that we all can providea better retirement for everyone.
To access The Trustee Report visit mallowstreet and download it today.
Discussing the report, mallowstreet CEO Stuart Breyer said: “The aim of the Trustee Report is to help our industry grow and evolve in order to provide a better retirement for everyone. We were delighted with the highly engaged response to the Survey from across the mallowstreet community, as well as our partners — AMNT, PLSA and the PMI. This response generated more than 14,000 primary data points, which we’ve analysed and streamlined to create the report you can download now for free from mallowstreet.com. We believe that by making this report publicly available we can stimulate industry-wide discussion and continue to support Trustees across the UK.”
David Weeks, Co-Chair of the Association of Member Nominated Trustees commented: “mallowstreet’s Trustee Report is a mine of useful information about the views and attitudes of pension scheme trustees. Some conclusions are expected; others will come as surprises. This adds to the value of the exercise. The AMNT represents trustees who speak for individual scheme members. We encouraged our member trustees to take part in the survey. We now look forward to discussing how best to turn the survey results into action on the ground.”
Julian Mund, Chief Executive, PLSA said: “The PLSA was really pleased to support this survey from mallowstreet, which raises loads of interesting findings. Good governance is increasingly under the regulator’s microscope, so it was striking that only 18% of respondents consider governance a top three priority for the next 1-2 years. It should lie at the heart of well-run schemes which achieve value for their members. We are at the forefront of debates around this and in particular the importance of having skilled, knowledgeable and diverse trustee boards supported by an effective and expert executive body responsible for day-to-day matters. We look forward to continuing to work with mallowstreet, regulators and policymakers in support of good governance for all schemes.”
Lesley Carline, President of the Pensions Management Institute, said: “The PMI is delighted to have been involved in mallowstreet’s Trustee Report. We believe 2020 is going to be an important year with regards to improving trustee standards in the industry, not least driven by the Pension Regulator’s emphasis on higher standards of trustee boards in terms of diversity, governance and ensuring better outcomes for members. In tandem with this, the PMI will continue to develop its own programmes and initiatives to drive standards among both professional and lay trustee groups further.”
To access The Trustee Report visit mallowstreet and download it free today.