Legislative Update January 2010
Compulsory Trustee Training
From the 1st of February 2010, all
pension scheme trustees are required to receive training within six
months of their appointment and at least every two years
thereafter. Where a person is already a trustee before the 1
February 2010, the training will have to be completed before 1
February 2012 and at least every two years thereafter.
Trustees who have received trustee
training prior to the legislation being effected do not receive any
exemptions regarding the timescales set out above. An employer who
operates a scheme is obliged to arrange for the trustees of that
scheme to receive appropriate training. Where the Principal
Employer acts as trustee all the directors of that company must
also receive appropriate training. Where an employer breaches their
obligation to provide appropriate training they may be
prosecuted.
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