Consultation to boost trustee standards is 'positive step and sign that professional trustee market is maturing'

The DWP today launched a consultation to boost pension scheme trustee standards.

Nathalie Sims, Partner and Head of Strategic Pensions Relationships, commented: “The DWP consultation which launched today is looking at boosting standards in the pension trustee market which is a positive step and a sign that that the pensions industry and Professional trustee market is maturing. The consultation reflects rapid development in the market as referenced in LCP's recent survey which highlights an increased concentration of Trustees and appointments. The consultation shows that the Regulator’s lens is now focused more sharply on standards, managing conflicts of interest and good and strong governance frameworks after the growth and consolidation of the market over the last few years.”

David Fairs, LCP Partner, added: “We look forward to the response to this consultation and the creation of evidence to support future regulatory oversight in the Trustee and administration market.”