Independence

Trustees need to take decisions in the best interests of the pension scheme members. There are many major decisions (e.g. scheme investment, or agreement of the employer’s contribution rate) where the interests of the employer and trustees are not necessarily wholly aligned.

Even where a trustee is satisfied that a decision has been taken in the best interests of members it is important that this is seen to be the case by scheme members.

The appointment of an independent trustee can improve the transparency of the trustees’ decision making and the confidence of scheme members in their scheme.

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