RegulationCorporate GovernancePwC finds more professionalism on trustee boards

PwC finds more professionalism on trustee boards

Increase in independent pension trustees both as board members and as chairmen

Demand for more professionalism on trustee boards has meant an increase in
independent trustees, both as board members and as chairmen, according to survey
by PricewaterhouseCoopers.

Some 53% of large schemes now have at least one independent trustee, the firm
found.

It also found that UK pension
schemes
are paying more trustees more money than ever before, with the
median level of pay for chairmen rising to £25,000 a year for larger schemes.

Andrew Evans, partner, PricewaterhouseCoopers LLP, said: ‘The expectations,
reward and compensation of trustee boards are changing to reflect the
requirements for a more professional approach. Five years ago it was uncommon
for schemes to pay their lay trustees. Now, over two thirds of schemes pay at
least one member of the trustee board.’

Further reading: 

Pensions tax changes see Aussie execs quit

Insider Business Club: pensions -beneficial changes

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