The National Pension Trust is governed by an independent Professional Trustee who regularly reviews all aspects of service provision. Individual service providers are market leaders in each of their respective fields, collectively delivering superior service to both employers and employees.
Regulator view of DC
DC pension provision is not about minimising costs; it is about providing members with the support they need to deal with complex investment, funding and retirement decisions. Strong and effective governance is crucial to ensure benefits are efficiently administered and the value of assets protected.
The national Pension Trust’s indepemdent Professional Trustee continually addresses the six elements which the Regulator believes are necessary to deliver DC members an adequate income in retirement.
Independent Professional Trustee
The independent Professional Trustee uses their experience and technical expertise to ensure that the National Pension Trust is appropriately governed. They bring commitment and energy to make things happen, effectively addressing the constraints, challenges and opportunities presented by DC pension provision.
Importance of independence
Unlike in other arrangements, the independent Professional Trustee:
- Is independent of all service providers, avoiding any potential conflicts of interest;
- Is independent of participating employers, removing the requirement for member nominated trustees
- Continuously monitors and reviews all service providers, to ensure members receive excellent service;
- Does not require the employer to establish a separate governance committee to address investment, communication or retirement matters.