TPR revises description of professional trustee
Trustees Agenda posted on 10 August, 2017
The Pensions Regulator (TPR) has published its professional trustee description policy, which explains its revised description and gives examples of when it may consider someone to be a professional trustee.
The new description focuses on whether a person's business includes trusteeship. Someone will normally be considered a professional trustee if they have represented themselves to one or more unrelated schemes as having expertise in trustee matters generally. Professional trustees are likely to be given higher penalties under the penalties policy.