This one day course is specifically designed for new trustees who have little or no experience in pensions. It will also be of interest to others wanting to gain a basic understanding of how pension schemes operate.

Course objectives

• To provide you with a basic grounding in pensions
• To enable you to become an effective trustee
• To give you an understanding of all the major issues involved in the running of a pension scheme

What's covered

The course focuses mainly on defined benefit schemes and addresses the following:

Introduction to being a trustee

What the job of a trustee is all about - the duties, responsibilities and what trustees need to know. The trustees' personal position and how this fits in with the law relating to pension schemes and the way they are regulated. The practicalities on how trusteeship works, how things are done and some of the skills and competencies that trustees need to have.

Funding

The role of the actuary. The basic principles behind carrying out an actuarial valuation and determining a contribution programme under the new funding regime. An introduction to other areas of actuarial work and the trustees' role in relation to the actuary's advice.

Investing the assets

The roles of the investment manager and investment consultant. Asset classes, including risk and reward issues. Manager types and structure; manager selection and understanding and monitoring their performance. Brief review of Statements of Investment Principles and Myners.

Effective trusteeship and best practice

Effective trusteeship in action. The session will feature a simulated trustee meeting. This enables the delegates to experience how trusteeship works in practice, and to discuss a number of case studies and scenarios in a realistic and stimulating format. What constitutes effective decision making and what behavioural and technical competencies contribute to a trustee board seeking to operate effectively in the new world order.