Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • February 2019
02

New standards published for professional pension trustees

Open-access content Tuesday 26th February 2019 — updated 5.50pm, Wednesday 29th April 2020

All professional pension trustees in the UK will be expected to abide by a new set of standards to demonstrate that they have a higher level of expertise than other trustees.

2


Published by the Professional Trustee Standards Working Group (PTSWG), the new rules are designed to provide assurance around quality and discourage poor practices.

Trustees will have to pass an initial application to hold accreditation, and confirm they remain fit and proper on an ongoing basis through continuous professional development.

There are additional standards for professional trustees who chair or are the sole trustee on a board.

"I am delighted to announce the publication of the standards and accreditation framework, which follows an extensive period of consultation," PTSWG chairman, Andrew Bradshaw, said.

"We are now focusing on implementing the accreditation framework. Professional trustees will be able to begin the process once this last step has been finalised."

To meet the standards, trustees will have to demonstrate fitness and propriety, governance skills, ongoing professional development and competence managing conflicts of interest.

The Association of Professional Pension Trustees Council will be responsible for maintaining the standards and will also oversee the accreditation framework.

However, this will be run by the Pensions Management Institute (PMI), and should be launched later this year.

PMI board member, Alan Whalley, said: "The PMI already supports over 1,000 trustee members by providing lifelong learning to improve knowledge and skills.

"Running the accreditation process is a natural extension of this work promoting excellence in pensions and we are pleased to be able to play a key role in this important initiative."


Sign up to our free newsletter here and receive a weekly roundup of news concerning the actuarial profession

This article appeared in our February 2019 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

UK drivers caught in £1.2bn insurance 'loyalty trap'

Millions of British drivers are automatically renewing their car insurance every year and overpaying by £1.2bn as a result, research by GoCompare has revealed.
Tuesday 26th February 2019
Open-access content
2

IFoA proposes new model for equity release mortgage calculations

The Institute and Faculty of Actuaries (IFoA) has proposed a new model that better reflects historic UK house prices for equity release mortgage calculations.
Monday 25th February 2019
Open-access content
2

Mutual insurance sector growth outstrips industry total

The mutual and cooperative insurance market has been the fastest-growing part of the global industry since the financial crisis, new research has uncovered.
Wednesday 27th February 2019
Open-access content
2

Financial sector pulls funding for coal projects once every two weeks

Insurers, banks and other financial institutions across the world have announced 33 restrictions on funding for the coal sector since the start of 2018, new research has found.
Thursday 28th February 2019
Open-access content
2

Insurers publish new guide to help mitigate climate risks

A group of leading global insurers has today published a practical guide to help investors better understand how climate change could impact their portfolios.
Friday 22nd February 2019
Open-access content
2

Self-driving cars cannot yet be considered 'autonomous' - ABI

Car manufacturers must not be able to describe their vehicles as autonomous if drivers are expected to handle emergencies, the Association of British Insurers (ABI) has warned.
Friday 22nd February 2019
Open-access content
Filed in
02
Topics
Professional
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Reserving Analyst

London (City of)
Negotiable
Reference
149485

Senior GI Modeler - Capital and Planning

London (Central)
£ excellent
Reference
149436

Risk Oversight Manager

Flexible / hybrid with a minimum of 2 days per week office-based
£ excellent
Reference
149435
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ