In my article Sole independent trustees: The need for continued member involvement, I questioned the current trend for replacing existing trustee boards with a sole independent trustee. In interesting comments made today to the Association of Member Nominated Trustees conference, as reported by Professional Pensions, Nick Gannon (Policy Lead at TPR) urged the industry to seek to a balance of experience on trustee boards between long-serving trustees and newer people with new ideas, to ensure an appropriate mix of skills. While he supported the presence of at least one professional trustee on the board, his comments suggest that such an appointment in place of the existing trustees may be less welcome. I suspect this issue will continue to tax the regulator and the industry for some time to come.
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