Trustee Standards

Trustee Standards

A code of practice for Professional Corporate Sole Trustees (PCSTs) was introduced in October 2020 which in summary:

  • Requires all PCSTs to properly document their appointment
  • Ensures PCSTs have procedures in place to document how their decisions are taken and recorded
  • Requires involvement of at least two Accredited Professional Pension Trustees in all key decisions
  • Requires procedures to be in place to maintain their independence from the sponsoring employer and to remain free of conflicts of interest
  • Requires Internal Controls set by an independent body to be in place

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