Claremont Pension Trustees Limited
Since 1999 Claremont Pensions has operated an independent trustee company, Claremont Pension Trustees Limited, which supplies professional trusteeship services to all types of pension schemes, for both continuing arrangements and for those which are closed or being wound up.
Burdens on individual trustees are onerous and increasing. Information overload has become familiar yet scrutiny from members and relevant authorities is insistent. Operating Claremont Pensions means that we bring a substantial breadth of expertise to the role. We also have full experience of accounting, administrative, actuarial and investment matters. We recognise that engaging the right professional advisers and monitoring their performance is fundamental to effective trusteeship. We react promptly to changes to statutory and reporting obligations. We assess employer covenants to ensure that informed negotiations as to levels of contributions can take place in a way that is fair both to pension scheme sponsors and to their members. We can be relied on to exercise powers and discretions in a robust and balanced way.
Two-thirds of pension trustee boards do not include a professional trustee. These have considerable exposure to the risk of conflicts of interest where individual trustees are officers of the sponsoring employer, to potentially stretched chairing and secretarial activity where records of meetings and decisions reached have evidential status, and to ineffective deployment of time including the duplication of limited resources. Our independence sustains an objective approach. The other trustees can act with surer confidence where a professional trustee is in place.
Duty of care
A professional trustee owes a higher duty of care than individual appointees. Even where we work alongside other trustees, were there to be a legal action, a court would usually look to the independent trustee first in awarding redress. We carry comprehensive indemnity insurance.