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A pension plan is set up under a trust, so the assets
of the fund are held separately from the company, by
trustees. Therefore, trustees are the guardians of the
plan's funds/assets.
The trustees of a pension plan have many duties and
responsibilities. Primarily, the trustee must:
- Implement the terms of the trust
documents
- Ensure all employer and employee
contributions are received
- Ensure prudent investment of the
trust fund
- Pay out benefits in accordance with
the plan rules and legislation
- Act in good faith and in the best
interests of the pension plan members
- Give appropriate information in
accordance with the Pensions Act
- Keep proper membership and financial
records
Willis Trustsure Limited provides advice on
trustee matters, prepares draft deeds for the appointment
or removal of trustees if necessary, and offers a professional
trustee service.
For further information on our range of trustee services
please contact us
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