Professional independent trustees are seeing increased enquiries and appointments to a wide range of occupational schemes since the economic downturn, says Independent Trustee Services Ltd (ITS).

The trustees services firm can verify the trend by the number of enquiries it has itself received, and has identified two key drivers for the appointment of a professional. The first is as a 'chair' of trustees where responsibilities have become too demanding for a 'part-time' trustee chair; and to manage actual or potential conflict of interests, which ITS says is particularly important in the current climate.

"This increase is a reflection of the current economic climate and the difficulties and conflicts this highlights to trustee boards," said Chris Martin, managing director at ITS.

"The governance survey ITS produced earlier this year indicated confirmed the challenges faced by trustees in both keeping up with legislative changes coupled with the pressures they face in business outside of their pension scheme responsibilities. The appointment of a professional trustee is a natural and appropriate reaction."

Martin added that trustees are increasingly seeking external advice while the sponsoring employer tries to fight the financial challenges businesses are facing. "Professional independent trustees are key for schemes in dealing with the current challenges they face."

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