UK - More than two-thirds of UK pension schemes have no plans to review trustees' pay despite recommendations in the Myners' review.
A survey of 92 pension schemes by the NAPF found that 69% will not be changing their stance on trustee pay. Only 13% of pension schemes valued at less than £100m were willing to assess their current practice.
The survey revealed that currently 55% of trustees remain unpaid for their work.
NAPF member service manager Paul Barton said many firms are adamant that if company appointed trustees can do this job in their paid time, there is no reason to change their current practice.
He said: “Smaller schemes simply don’t have the resources to pay the trustees for this sort of work. It would make the running of the pension scheme less viable.”
By Simon Meek
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