The Department for Work and Pensions (DWP) has launched a consultation on plans to improve the standards of pension scheme trusteeship, governance and administration.

The consultation, which closes on 5 March 2026, aims to ensure trustees have the standards and skills needed to deliver a modern pensions system that works harder for savers and supports UK economic growth.

Launching the consultation, the DWP said that, as the pensions landscape rapidly evolves trusteeship, governance and administration standards must keep pace.

The consultation therefore aims to bring all schemes up to the required standard, outlining several new measures designed to raise standards for all trustees, as well as ways pension scheme administration standards can be improved for the benefit of savers.

This includes questions on the best way to increase the knowledge and understanding requirements for trustees, including options to centrally set standards and accreditation for professionals and measures to improve the diversity of trust boards.

In particular, the consultation outlined plans to increase the requirements needed to be a professional trustee, with plans to explore whether government and The Pensions Regulator (TPR) should introduce higher requirements for professional trustees and set out on a statutory basis the standards they wish accredited trustees to meet.

This is in contrast with the current system, which allows the industry to self-regulate and decide what those standards should be.

However, the government clarified that it does not want to risk discouraging lay or independent trustees who could add value and diversity to a trustee board by imposing the same requirements on them.

The consultation also includes questions on broader suggestions, such as whether it would be appropriate to introduce a new public trustee who could be appointed by the Pensions Regulator.

This consultation also asks about how the DWP can ensure appropriate standards for pension scheme administrators are in place and enforced.

Commenting in the foreword, Pensions Minister, Torsten Bell, said: The pensions landscape is changing. The transition from defined benefit (DB) to defined contribution (DC) is well underway.

"The DC market itself is transitioning to a more mature structure, characterised by bigger schemes. Change is also being accelerated by the Pension Schemes Bill currently before parliament.

"Amidst this change, one thing remains constant: the importance of good governance, with schemes overseen by trustees that have not only the skills and knowledge to navigate the changes to come, but also members best interests consistently front of mind.

"This consultation takes stock of our trustee and pension administration landscape. It invites views on the issues confronting trustees amidst these transitions and where changes might be valuable. I look forward to hearing from trustees themselves, but also scheme members, managers and administrators."

Industry experts have broadly welcomed the launch of the consultation, with many agreeing on the importance of ensuring high-quality trustee and administration standards.

Pensions UK head of DB, LGPS and investment, Tiffany Tsang, said: “In the context of a consolidating marker, it is right that the government should consider whether and how pensions governance needs to evolve. 

"Trustees across all scheme types need the right environment and conditions to do their jobs effectively. Ensuring they have the appropriate skills and capability will be central to success, alongside a proportionate approach that reduces unnecessary burdens and allows trustees to focus on their core fiduciary responsibilities. We look forward to engaging with our members and government on these issues over the coming weeks.”

Independent Governance Group head of policy and external affairs, Lou Davey, also welcomed the consultation, pointing out that while no firm proposals are being consulted on, many important questions are being asked, including how best to consider the member voice, how to support administration standards, and the balance of maintaining an inclusive approach to trusteeship while ensuring high-quality governance. 

"We are pleased that DWP is taking the time to gain a detailed understanding of the issues, current practice, and potential solutions before making firm policy proposals and we look forward to engaging fully with the consultation," she stated.

"High-quality trusteeship and governance is vital to ensuring good service and good outcomes for pension scheme members, so taking the time to get the regulatory framework right is an approach we support.”
 
Adding to this, Association of Professional Pension Trustees (APPT) chair, Rachel Croft, agreed that trustees need to continue to have the right skills and experience and that to be fully prepared to take schemes forward successfully.  

"We note the important role the paper outlines that professional trustees are playing in this," she continued. 

“We welcome the trustee directory, subject of course to it not being excessively onerous administratively.  We also welcome the questions on accreditation and standards as areas we are already examining and looking at with key stakeholders.
 
“Administration is also a key consideration for the consultation.  Trustees are well-placed to support the development and improvement of administration services that members receive and professional trustees are playing a key role here."

However, she said that the APPT had one caveat at this early stage in the consideration of the consultation document: "Naturally, we advise careful consideration of applying any restrictions to appointment numbers or terms, given the need to manage market capacity and encourage the continuation of training and development for professional trustees.”
 

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