UK - Investments and regulations are the biggest areas of concern for trustees in terms of fulfilling their responsibilities, Gissings claims.
The consultant’s research found 28% of respondents cited regulation as the area where they felt “most vulnerable”, while 26% named investments as their biggest worry.
Gissings chief actuary Bill Sharp said: “We know anecdotally from attending trustee meetings that today’s trustees are feeling under pressure on all fronts, including funding and legislation.
“What is encouraging is that of those surveyed, many attended training courses on a regular basis. Keeping up to date with these issues is a constant battle for trustees.”
The survey found that 35% of trustees attended formal training on an annual basis while 10% attended twice a year. But just over one-in-five said training was “infrequent”.
And nearly four-out-of-five do not intend to obtain the PMI Trustee Certificate of Essential Pensions Knowledge.
The survey was carried out before the National Association of Pension Funds unveiled its plans to offer a trustee qualification.
Sharp said: “The important thing to note is not who is offering a qualification or training, but that trustees – even those who attend formal training on a regular basis – are still at times overwhelmed with the enormity of their responsibilities.”
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