Diversity on trustee boards may be an area that The Pensions Regulator (TPR) will increasingly "dig into" in the future, it has said.
Although the regulator does not yet have the power to compel the specific make up of a trustee board, it may use its 21st Century Trusteeship project to encourage trustees to consider to regularly review the effectiveness of their board and mitigate groupthink.
Policy manager in the watchdog's regulatory policy directorate Louise Sivyer said trustees need to think regularly about the composition of their boards.
"Trustees should regularly review the effectiveness of their board to ensure there are different viewpoints in the trustee room," she told delegates at Professional Pensions' defined contribution (DC) conference on 25 April.
"However, we don't have the power to compel the specific make up of a trustee board. We focussed on this in the 21st Century Trusteeship campaign. For now, we will encourage trustees to be thinking in that space."
The ongoing campaign, launched in September last year comes as part of the watchdog's 21st century trusteeship initiative. It outlines how people involved in running schemes can take action to meet expected standards and what action TPR will take if they do not improve.
Also speaking at the conference, Aon partner Lynda Whitney said diversity is as much around skills, personalities, and approaches as it is about "box-ticking" diversity.
Consequently, "when TPR comes on to that, they will have a challenge in defining what true diversity is," she said.
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