It is now over ten years since the Trustee Knowledge and Understanding (TKU) requirements were introduced. Since, then the range of topics that trustees need to understand has become much wider, with new concepts such as integrated risk management for trustees to grapple with, an ever greater choice of asset classes and investment approaches to consider and additional governance considerations for trustees to comply with.
Punter Southall’s TKU courses are aimed primarily at new trustees (or those who would like a refresher) and will take trustees through the basics of the Pensions Regulator’s TKU scope guidance as well as providing an insight into some of the experiences and challenges that trustees are likely to face. The course will be interactive, with plenty of practical examples and opportunities for discussion and questions.
The course will cover:
- Introduction to pension schemes: the parties involved in pension schemes and some of the legislative background to pensions.
- Trusts and trusteeship: the roles and responsibilities of trustees and key trustee powers and discretions
- Funding and valuations: the types of actuarial valuations and the Pensions Regulator’s expectations for funding pension schemes, including integrated risk management.
- Introduction to investment: different asset classes, the risks and rewards associated with them and the key principles in setting an investment strategy.
- Managing a pension scheme: preparing for a typical trustee meeting and key governance and whistleblowing requirements.
The course is aimed at the trustees of defined benefit (DB) schemes, but will also touch on the key issues relating to defined contribution (DC) AVC funds for which many DB trustees will also be responsible. It is designed for new trustees and as a refresher for more experienced trustees. It may also be of interest to non-trustees who would like to have a better understanding of the perspective of a pension scheme trustee.
Price: £495+VAT (to include all course materials, lunch and refreshments throughout the day)