Pension trustees’ burdens weigh heavier than ever

JAMIE RICKETTS reports on the changing markets and regulations challenging retirement fund managers

BEING a pension trustee has never been easy, but recent changes in legislation and market environment have increased the burden beyond belief. These developments, such as the change of regulator from the Occupational Pensions Regulatory Authority (OPRA) to the Pensions Regulator in April last year, the impending A-Day, and the closure and winding-up of final salary schemes by the likes of Arcadia Group, the Co-op and Rentokil, mean that pension trustees are operating in unknown territory.