More pension schemes are training trustees, according to the Pensions Regulator.
In a survey, the regulator found 66% of closed schemes are now offering training, up from 56% 12 months ago.
In addition, a total of 70% of open schemes offer training, compared to 55% last year.
Smaller schemes - those with fewer than 100 members - as well as those that meet less frequently, are less likely to provide formal, structured training.
More than 60% of small defined contribution schemes have not undertaken formal, structured training in the past year.
More than half of schemes have undertaken advanced or specific training in the past year, up from 42%.
A statement says: “It is clear from the results that there remains a need to increase the level of training provided, particularly to further reduce the proportion of schemes that do not undertake training.”
More than 70% of schemes in which trustees had undertaken advanced training say the board has a good understanding of the trustees’ role compared to less than 40% of schemes in which trustees had undertaken no training.
The survey also found boards that meet at least six times a month demonstrate higher governance standards.
The Pensions Regulator says: “It is possible that, where meetings are infrequent, the extent of discussion and therefore decision making, which includes consideration of key aspects of scheme governance, is significantly less.”
About half of trustee boards meet at least quarterly, with defined benefit schemes more likely than defined contribution schemes to do so.
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