The Pace Trustees are responsible for the proper running of the scheme, most importantly:
• The investment of Pace’s assets which are in excess of £9 billion
• The management of Pace in accordance with the Trust Deed and Rules and all relevant law
• The payment of benefits and provision of information to over 140,000 members
The scheme members look to the trustees to make sure that the scheme is well run and that their benefits are secure.
The Pensions Department provides support and training for newly elected trustees in order for them to be able to fulfil their duties, and assistance is also available from professional advisers.
It is a requirement for trustees to have knowledge and understanding on certain aspects of pension scheme law, funding and investments and their own scheme's Trust Deed and Rules.
So, to be a Trustee you must be prepared to commit to spending the necessary time needed to develop the level of knowledge required for the role.
The Pensions Regulator’s Trustee Toolkit
The Trustee toolkit is a flexible e-learning programme that gives you all the information you need about being a Trustee in a number of online modules. It helps new Trustees obtain the knowledge and understanding requirements mentioned above.
Further information on Trustee Knowledge and Understanding Requirements and the Trustee Toolkit can be found in the Nomination Pack. Details of the nomination process can be found here.