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Feelings are mixed about the use and regulation of sole trustees
The rise and rise of the sole trustee is a phenomenon. Now at the helm of one in five pension schemes, a corporate sole trustee sits in the place of a traditional trustee board. Often they replace ageing lay or member-nominated trustees, whose number has dropped by over half (53%) in five years.
Research from Lane Clark & Peacock (LCP) shows 50% of schemes now have a professional trustee (for the year to June 2023) and 20% have a sole trustee arrangement in place already with double digit ...
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