Most trustees of small occupational pension schemes have had no training at all despite pending pension legislation require them to at least be familiar with the issues they deal with, says the Occupational Pensions Regulatory Authority.
Opra's annual survey published today reveals just a few trustees of small scheme have undergone any previous training. Worryingly, this is particular the case when it comes to trustees of defined contribution schemes with fewer than 100 members - the most popular type of scheme currently offered to new employees. The Pensions Bill published this year states trustees will be required to have some sort of training when the new pensions legislation comes into effect in April 2006. However, so far it seems the level of trustee knowledge and understanding is closely linked to the size o...
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