Greater burden of responsibility

Sections 247 to 249 of the Pensions Act mean the responsibilities of trusteeship are about to become greater

Sections 247 to 249 of the Pensions Act 2004 refer to trustees' knowledge and understanding (TKU). They appear innocuous but in my view they could lead to a major structural change of UK pensions. When I get on a plane I take it for granted that the pilots are sufficiently knowledgeable and trained to fly the plane safely and competently. Similarly, if I join an occupational pension scheme it does not seem unreasonable to expect that the trustees are up to the job. That the Government felt it necessary to put these clauses in the Pensions Act suggests that not all trustees are currently c...