Countdown to A-day: Trustees starting to meet legal obligations.

Pensions Management, October, 2005

Trustees are beginning to take action to meet their increased obligations under the new pensions legislation.

According to a survey carried out by Mercer Human Resource Consulting, over 50% of scheme trustees have taken steps to bring their knowledge up to the standard that they will be required to meet by law.

The study found that 56% of trustees are actively taking steps to increase their knowledge, with 39% still considering what action to take and only 5% of trustees yet to consider their position.

Gordon Clark, principal at Mercer, said that many trustees still require training to meet the new standards required: "Under the new legislation, trustees will have much more personal responsibility for helping to secure members benefits."