Independent Trustees

UK Occupational pension schemes tend to be established under Trust or by a formal contract between the Principal Employer and the pension scheme administrator. Where the Scheme is set up under Trust, Clumber Consultancy have the expertise, experience and skill set to act as Independent Trustees to the Scheme.

Usually working as an Independent Trustee, or undertaking specific projects for the Trustee Board, we will undertake our role with the due diligence, duty of care and professionalism that you would expect from an experienced Independent Trustee. We specialise in managing conflicts of interest, member or Trustee disputes, data reconciliation exercises, cost saving exercises, investments reviews and ensuring that the Scheme remains compliant with overriding pension scheme legislation, the Pensions Regulator and the Pension Protection Fund.

By appointing Clumber you will be working alongside an experienced pension Trustee with a positive and pro-active approach to any given scenario that your pension scheme may face. Whilst our appointment is often Employer lead it is our duty to act in the members best interests at all times.

Pension Scheme Wind-Ups

Do you have a Trust based occupational pension scheme, or a Scheme that may have been closed or paid up? Have you ever considered that the annual cost of maintaining the Scheme in its current status, along with associated statutory obligations, may outweigh any benefit to the Employer and the members? If so, then winding-up the Scheme may be a viable option and after undertaking a thorough review of the scheme, we can offer a fixed fee and timescale to wind up the Scheme as Independent Trustee on your behalf.

Acting as Independent Trustee to the Scheme, Clumber Consultancy will:

  • Arrange a Deed of Appointment and Removal for Clumber Consultancy to replace the Principal Employer/Insolvency Practitioner as Independent Trustee to the Scheme.
  • Trigger wind-up of the Scheme (if not already triggered by insolvency) in accordance with the Scheme Rules.
  • Ensure the Scheme is compliant.
  • Review the investments made available to members and communicate to the membership accordingly.
  • Act in the members’ best interests.
  • Provide regular, clear and concise communication to the members of the Scheme.
  • Provide benefit options to the members.
  • Secure benefits away from the Trust of the Scheme in accordance with the members’ wishes.
  • Complete the appropriate wind-up documentation and notify the relevant authoritative bodies to finalise the Scheme wind-up.

Winding-up your occupational pension scheme may not always be the best solution for the employees and your business and we would always recommend consulting a qualified financial adviser, before reaching this decision.