River & Mercantile Food for Thought seminars

River & Mercantile have organised a series of seminars which will be of interest to professional trustees. These are summarised below:

DB Food for Thought: 12:00 – 14:30

DC Food for Thought: 16:00 – 18:30

Date Location
9 July 2019 Birmingham
16 July 2019 Leeds
24 July 2019 Manchester

Venues will be advised on registration. To book your place, contact events@riverandmercantile.com

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Council Elections 2019

Nominations for APPT Council closed on 31 May 2019. There were three nominations for the three vacancies, and therefore no election was necessary. The successful candidates were:

  • Gilles Erulin (AAA Trustee)
  • Nigel Hill (Pi Partnership)
  • Christopher Wheeler (BESTrustees)

They will take office with effect from 1 July 2019, and will join Andrew Bradshaw,  Robert Thomas, Nita Tinn, Vassos Vassou and Jackie Woods.

Leaving Council are Sarah Marshall and Graham Wardle.

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APPT Council elections 2019

You will be aware that each year two of the eight elected members are required to retire by rotation. This year, three vacancies have been created through the retirements of Graham Wardle and Sarah Marshall in addition to the place that has remained vacant since July last year.

The continuing Council members are:

  • Jackie Woods (Capital Cranfield)
  • Nita Tinn – (Independent Trustee Services)
  • Robert Thomas – (Law Debenture)
  • Andrew Bradshaw – (Ross Trustees)
  • Vassos Vassou – (Dalriada)

Should you wish to stand for election to Council please complete a copy of the nomination form and return it to me by 1 June 2019. To be eligible, you must be a fully paid up member of APPT as at the date of this notice.

A copy of the nomination form may be downloaded from the link below.

Receipt of nominations will be confirmed by email.

If more than three nominations are returned to me, I will conduct an election. This would be conducted electronically during the week commencing 3 June 2019 with results announced on 10 June 2019. Successful candidates will officially take office with effect from 1 July 2019.

The nomination form can be found here.

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PMI Award in Pension Trusteeship: examination dates

Centre Date Deadline to confirm numbers by PMI
London – High Holborn Thurs 25th April – 14:00 Thurs 11th April
London – High Holborn Fri 24th May – 13:00 Fri 10th May
London – High Holborn Fri 28th June – 13:00 Fri 14th June
Leeds Fri 24th May – 13:00 Fri 10th May
Manchester Fri 28th June – 13:00 Fri 14th June
Edinburgh Fri 24th May – 13:00 Fri 10th May
Glasgow Fri 28th June – 13:00 Fri 14th June

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Professional Trustee Standards

Standards for professional trustees are published

New standards which all professional trustees will be expected to meet have been published today by the Professional Trustee Standards Working Group (PTSWG).

The standards and an associated accreditation process are designed to improve and provide assurance about the quality of professional trustees, and discourage poor practices in the market.

Professional trustees will have to demonstrate they meet the standards, including fitness and propriety, governance skills, ongoing professional development and managing conflicts of interest. There are additional standards for professional trustees who chair or are the sole trustee on a board.

Professional trustees play an important role in pensions and should have a greater level of expertise, knowledge and skills and meet a higher standard of care than other trustees.

To hold accreditation, professional trustees will have to pass an initial application and then, on an ongoing basis, confirm they remain fit and proper and complete relevant professional development.

Andrew Bradshaw, chairman of the PTSWG, Association of Professional Pension Trustees council member and Ross Trustees director, said: “I am delighted to announce the publication of the standards and accreditation framework, which follows an extensive period of consultation with our fellow professional trustees and the advisory community.

“The input from people who responded to the consultation has been invaluable in shaping this final version of the standards, as has the commitment and hard work from all of the working group members.

“We are now focusing on implementing the accreditation framework. Professional trustees will be able to begin the process to becoming an accredited trustee once this last step has been finalised.”

David Fairs, executive director for regulatory policy, analysis and advice at The Pensions Regulator, said: “Professional trustees are a valuable part of pension scheme boards, bringing vital knowledge and experience which helps to ensure schemes are well run and provide good outcomes for members.

“This robust accreditation framework will help to ensure that professional trustee appointments are high quality and meet the standards that TPR expects.”

The Association of Professional Pension Trustees Council will take on responsibility for maintaining the standards and will also oversee the accreditation framework, which will be run by the Pensions Management Institute (PMI). The framework is expected to be launched later this year.

Alan Whalley, chairman of the Pensions Management Institute Board and member of the Professional Trustee Standards Working Group, said: “The Pensions Management Institute already supports over 1,000 trustee members by providing lifelong learning to improve knowledge and skills.

“Running the accreditation process is a natural extension of this work promoting excellence in pensions and we are pleased to be able to play a key role in this important initiative to drive up standards.”

Editor’s notes

• The Professional Trustee Standards Working Group (PTSWG) was set up in 2017 as the influence of professional trustees on trustee boards grew and it was universally recognised that standards needed to be adopted by the industry following The Pensions Regulator’s (TPR) 21st century trusteeship and governance discussion paper.
• The PTSWG’s remit is to establish a set of standards for professional trustees and to consider how professional trustees could be assessed and accredited against those standards.
• The Professional Trustee Standards Working Group (the Group) is chaired by Andrew Bradshaw, Association of Professional Pension Trustees (APPT) Council Member and Ross Trustees Director, with representatives from The Pensions Regulator (TPR), APPT, The Association of Corporate Trustees (TACT), Pensions Management Institute (PMI) and Pensions and Lifetime Savings Association (PLSA). The group also includes representatives of those who practice as professional trustees outside of corporate structures or firms.


Consultation response

Professional Standards for Accredited Trustees

Accreditation requirements

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