Nearly three-quarters of member-nominated trustees (MNTs) want to see a formal qualification for trustees, to help meet the requirements for trustee knowledge and understanding (TKU), claims a survey by the Trades Union Congress (TUC).
Carried out by Punter Southall on behalf of the TUC, all of the 51 members of the TUC Member Trustee Network questioned, said they were in favour of the Pension Regulator’s TKU requirements, with 73% saying they would like to see the introduction of a formal qualification. And virtually all of the respondents, at 98%, were also in favour of at least 50% of the trustee board being nominated by members, although nearly a third of those questioned agreed it is hard to find member-nominated trustees. Meanwhile, although 73% claimed becoming a trustee has become a very onerous responsibility...
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