Pension Regulator to appoint pension trustees on wind-up

Before the Pensions Act 2004, the responsibility for appointing an independent trustee to a pension scheme belonged to the insolvency practitioner, but since the Act came into force in April this year, the responsibility has been transferred to the Pensions Regulator. The organisation now selects independent trustees from its trustee register, who are rigorously vetted to ensure that they have the appropriate skills to protect members' benefits through the insolvency process. Clive Pugh, trustee services manager at the Pensions Regulator, says it is possible some insolvency practitioner...