Over third of trustee boards shun advisers

The survey of the trustee boards of the UK’s largest pension schemes shows 79% of those who do not use an adviser also see no need for one in the future. Actuarial consultants have the most popularity among trustee boards, followed by accountancy firms and specialist corporate finance advisers. The survey also shows half of the trustee boards feel concerned about the future impact on their employer’s covenant of a takeover, with 30% saying they feel more fearful than five years ago. Boards count private equity takeovers and foreign-based businesses centred outside the EU as main concer...