Scheme Specific Training Courses

A key element of the Pensions Act is that trustees must be conversant with their scheme documents.

In order to help trustees comply with this aspect of the legislation, LCP has introduced a bespoke scheme specific service.

Phase One

This involves a review of your scheme's important documents:

An in-depth familiarisation of your documents, bringing to attention the key issues and enabling trustees to answer questions such as:

Do you understand the areas of risk for a trustee and what protection is available under your scheme rules?
Do you understand the funding position revealed in your scheme's latest actuarial valuation report and how this might be affected by the assumptions adopted and the circumstances (eg if the scheme is ongoing or if it were to wind up)?
Do you know your scheme's investment objective, including the reasons for it (if it is a defined benefit scheme) or the reasons for the range of funds offered (if it is a defined contribution scheme)?
Do you know whether any of your scheme's benefits are insured (eg death in service benefits or pensions in payment) and are you aware of the principal provisions of the insurance policies?