APPT

Over 300 professional trustees have now applied for accreditation through the Association of Professional Pension Trustees (APPT) programme.

Escalating standards for sole trustees will become a norm for reputable firms, even if they are voluntary, says Nigel Hill.

Sole trustees will be expected to assess whether to report to The Pensions Regulator (TPR) if they are removed, or resign, from an appointment because of sponsor’s actions.

More than 200 professional trustees have received full accreditation from the Association of Professional Pension Trustees (APPT) since the course opened in April.

The number of defined benefit (DB) schemes employing a sole trustee model is expected to double over the next five years, according to an Aon poll of the sector.

The code of practice on sole trusteeship being developed by the Association of Professional Pension Trustees is expected to be published within months, chairwoman Nita Tinn says.

Provisional accreditation of professional trustees is necessary to ensure the speedy removal of “unscrupulous individuals”, Dalriada Trustees has said in defence of the process.

As Covid-19 hampers efforts for professional trustees to complete necessary exams, Brian Spence defends the use of provisional accreditation.

Professional trustees claiming to have “provisional” trustee accreditation are creating confusion in the market and are undermining the whole process, the Pensions Management Institute (PMI) has warned.

Alan Whalley says professional trustee claims of “provisional” accreditations are undermining the process and creating confusion in the market.