Written question asked by Iain Wright (Labour) on Tuesday, 15 May 2007, in the House of Commons. It was due for an answer on Thursday, 17 May 2007. It was answered by James Purnell (Labour) on Tuesday, 22 May 2007 on behalf of the Department for Work and Pensions.

Pensions Schemes

Question: To ask the Secretary of State for Work and Pensions (1) what assessment he has made of the (a) expertise and (b) training requirements of trustees of pension fund schemes;

Answer: The Government recognise the importance of pension scheme governance and the vital role of pension scheme trustees. While they have no current plans to introduce further legislation in this area, nor to assess the expertise or training requirements of trustees directly, the strategic priorities of the pensions regulator include improving the governance of work-based pension schemes and the training of trustees.The regulator has already provided trustees and their advisers with extensive guidance on a range of governance issues such as internal controls and risk management through codes of practice and other guidance. The regulator has also established a free e-learning programme for trustees, the ‘Trustee toolkit’, providing easily accessible information which has been well received.The regulator will build upon this work by implementing the initiatives outlined in its discussion paper on scheme governance published in April 2007. These relate to managing conflicts, the employer covenant, relations with advisers, issues around administration, investment choices and winding-up of schemes.

Secondary information