Pensions Regulator bans first trustee

A Determination Panel decided on 20 November 2006 that David John Foster, the chairman of the trustees of the Ericsson employee benefits scheme, was unfit to act as a trustee of any trust-based pension scheme after voicing concerns over his “honesty, integrity, competence and willingness to understand and fulfil the responsibilities of the role”. The Pensions Regulator was alerted to his conduct by a ‘whistleblower’s report’ which led to the body appointing an independent trustee to the scheme to secure funds and start an investigation into Foster’s conduct. As a result, it was revealed ...