Call for better pension trustees

June 8, 2006

Many pension fund trustees do not really know what they are doing and need better training, Sir Bryan Nicholson, outgoing chairman of the Financial Reporting Council has said.

His comments come as concern grows over pension fund deficits and the closure of more final salary schemes.

Trustees control the assets of pension schemes – often hundreds of billions of pounds – and if they make a wrong a decision, the consequences could be disastrous.

BBC NEWS | Programmes | Moneybox | Call for better pension trustees