Recording CPD for Pension Trustees


Pension Trustees

Recording CPD for Pension Trustees

In the UK, if you have a pension scheme for your organisation, the trustees of the scheme must demonstrate some form of professional development.

Individual trustees can demonstrate best practice and ongoing development. Guidelines for best practice can be found at Trustees Knowledge and Understanding (TKU) regulations. Sections 47 to 52 refer to ‘updating knowledge and understanding’.

47. ‘The legislative requirement is that trustees must have the appropriate level of training and understanding. Appropriateness includes the notion that trustees should keep their knowledge and understanding up to date so that it remains relevant.’*

The trustees CPD must be agreed and certified by an individual with the role of ‘Responsible Person’.

Most of the pension trustees won’t be working for your organisation, they’ll be experts who work and live in all parts of the UK. The number of trustees is going to be quite small and it’s unlikely you’ll be able to incorporate this small group within your own systems. You also may want to create some impartiality around it by not incorporating into your systems. So how are you going to recording training and development of the pension trustees?

At present, your process may look a little like this;

It is agreed that trustees must hold certain qualifications and training to be in the role. It is also agreed that trustees must complete an agreed number of CPD hours or points over a set time period. At present, there is at least one member of staff chasing up trustees to submit training certificates and evidence of CPD achievement. It’s likely this information is held on a excel spreadsheet and within a file for each Trustee. So when the time comes to evidence ‘knowledge and understanding’ this has to be done by using a spreadsheet supported by either printed or scans of documents.

Does this really look professional? Are you doing as much as you can to support your pension trustees?

It certainly shouldn’t be this difficult trying to find out who has done training and CPD.  Ideally one central location and be able to view and report on all of the training and development of the Trustees.   A place to view the records and evidence and much easier and paperless process for auditing. A reminder system to prompt trustees when they are near the end of the time cycle and are still short of CPD hours or points.

If  you have a small number of pension trustees and need to find an affordable solution for capturing training and CPD, contact Skills+ to see how we can help. Find out more about our low user packages by clicking here

  • The Pensions Regulator