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PwC Says Trustees Are Lowest Paid Staff In Pension Schemes

Consulting giant PwC has found that trustees are the lowest paid staff members in pension management despite the fact that tougher regulation as well as the COVID-19 outbreak are demanding that they put in more hours than ever. ....

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Trustees are lowest paid in pension scheme management: PwC survey

By IPE Staff2021-02-09T16:05:00+00:00
A recent report by PwC has found that trustees are among the lowest paid roles in pension scheme management despite growing responsibilities and increased regulation.
It is no surprise that the global pandemic and associated volatility in financial markets, together with increased pressure from The Pensions Regulator (TPR), has put more pension scheme trustees on the spot than ever before.
Yet PwC has found that pension funds typically pay less for trustees than for their actuarial and legal advisers, and in some cases less than their secretarial support. This is despite having responsibility for managing the challenges, risks and complexities associated with the £2trn (€2.3trn) of defined benefit (DB) pension liabilities in the UK, it said. ....

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