Trustee training
The Pensions Act 2004 introduced a Code of Practice entitled Trustee Knowledge and Understanding (TKU) which sets out specific areas where trustees need to have a certain level of knowledge. All Trustee Directors are set standards which they are expected to achieve and they must complete an annual self-assessment questionnaire, based on aspects of law relating to trusteeship and pensions, investments and funding and other essential aspects of pensions knowledge.
All Trustee Directors have successfully completed the Pensions Regulator's training course, the "Trustee Toolkit."
Each year, the Trustee Directors meet to consider their current effectiveness and how they can improve this.
During the last year, additional training was delivered by the RMPTL Executive and covered the law related to pensions, liability management and alternative investment strategies.