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The Pensions Regulator (TPR) has defended its draft guidance on defined benefit (DB) funding after the Trades Union Congress (TUC) and Confederation of British Industry (CBI) criticised the code.

The majority of respondents believe concern over conflicts of interest has reduced the number of senior people serving on trustee boards.

This week, Buzz respondents rejected Steve Webb's idea to give annuitants a one-year cooling off period.

The majority of Buzz respondents leapt to the defence of trustees, rejecting the suggestion they were getting their priorities wrong and devoting too much time to box-ticking exercises.

Trustees should scrutinise fund managers that restructure their teams to ensure they remain committed to the initial objectives the pension scheme bought into, experts say.

This week, Buzz respondents said trustees must get better at understanding fees.

An even greater proportion of Buzz respondents said schemes must do more to understand the fees they pay to asset managers.

Most Buzz respondents believe trustees and scheme managers are not doing enough to get to grips with fees they pay for transition management services.

Jack Jones looks at the industry’s response to TPR’s proposals on overseeing defined benefit

Rachel Dalton looks at how a trustee board can deal with a difficult member