Technical factsheet 179: guidance on pension scheme trustees duties and responsibilities

Technical factsheet 179 gives a brief summary of the main duties and responsibilities for trustees of pension schemes. This is based on the various pensions acts and guidance from The Pensions Regulator. 

The law requires that trustees have knowledge and understanding of the law relating to pension schemes as well as the principles relating to the funding of pension schemes and the investment of scheme assets. 

Pension scheme trustees are also required to be familiar with certain scheme documents including the trust deed and rules, the statement of investment principles and the statement of funding principles. 

The trustees are responsible for the proper running of the scheme – from the collection of contributions, to the investment of assets and payment of benefits.