“We are extremely pleased with the appointment we made. The way Ian and Kerry react to us and work with us is brilliant. We are very happy.”
“Mike is a great secretary. He does a really good job for us.”
“Excellent service - as expected and why PSIT was chosen.”
“So much more proactive than the previous company. On the ball - thinking in advance of things needing doing - very proactive.”
“Their pragmatic approach helps with quick and easy decision making. Another approach might have made things more difficult.”
“PSIT was chosen because of their knowledge of the subject and awareness of our particular schemes.”
Minimising the risk of a conflict of interest when your actuarial valuation is due is one of the key reasons why you may want to make an interim independent pension trustee appointment. Balancing defined benefit (DB) pension scheme funding requirements against the need to invest in your business can be struggle for all companies, particularly if you are small or medium sized.
A pension trustee board often comprises directors or senior employees of the scheme’s sponsoring employer. Every time a formal actuarial valuation is carried out, scheme funding negotiations often become difficult to manage as company appointed trustees become conflicted, especially those individuals who are responsible for making strategic or financial decisions on behalf of the sponsoring employer.
By appointing a professional trustee on a short or fixed term basis when you need it most, PSIT can ease conflicts of interest and ensure scheme funding negotiations are completed smoothly and swiftly. As independent trustee, we negotiate with the company and enable conflicted trustees to abstain from relevant discussion and decision-making, or stand in the employer's shoes when they need to.
An interim independent trustee appointment is a cost effective way to manage challenging pensions situations and will terminate when your scheme funding negotiations are complete and the actuarial valuation is signed off.
If you would like to find out how an interim independent trustee appointment may benefit your pension scheme, please contact us.
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