Pension scheme trustees are beginning to take steps to improve their knowledge and understanding new research reveals.
But the findings of the research published by the Pensions Regulator also indicated a mixed picture of standards of governance and administration amongst occupational pension schemes.
The regulator's Occupational Pension Schemes Regulatory Survey finds only 3% of large schemes do not provide trustees with training, compared to 23% of medium sized schemes and 62% of small schemes.
The research finds demand among all types of occupational schemes for the new e-learning programme being offered by the Pensions Regulator, with 68% of survey respondents saying scheme trustees would be likely to use free and user friendly interactive learning materials provided by the regulator.
In terms of more specialist learning activities, only half of large schemes say they have at least one trustee that has attended an investment training course in the past three years, even though 95% of large schemes admit having assets that are not solely invested in insurance policies.
For defined contribution schemes, respondents cite lack of confidence, member understanding and inadequate contributions as key risks to providing members with adequate retirement benefits. This is an area the regulator says could be addressed in part by those responsible for the governance of pension schemes through high standards of administration and effective member communications.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Matthew West on 020 7484 9893 or email [email protected].IFAonline
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week
From 8pm Friday 19 October