DC amend trustee
Type of trustee
When adding or amending trustee details, you will need to identify the trustee as either “Individual” or “Corporate”. Below, you’ll find definitions of individual and corporate trustee types.
Corporate trustee types
Appointed by the regulator trustee
A company or corporate entity appointed as a trustee by the Pensions Regulator.
Principal or participating employer trustee
A trustee which is also a principal or participating employer in the scheme.
Professional trustee
A professional trustee is a person (whether or not incorporated) who acts as a trustee of the scheme in the course of business of being a trustee. Someone will normally be considered a professional trustee if they have represented or promoted themselves to the trustees or sponsors of one or more unrelated schemes as having expertise in trustee matters generally (rather than just in certain areas), whether for remuneration or otherwise. An unrelated scheme is a scheme where they have never been a member (either of that scheme or a scheme with a sponsoring employer in the same corporate group ) and they have never been employed by, or been a director of, any participating employer in the scheme (or any employer in the same corporate group). Please see our professional trustee description policy for a more detailed explanation and examples. www.thepensionsregulator.gov.uk/docs/professional-trustee-description-policy.pdf
However, where relevant, we will consider on a case by case basis whether any trustee or trustee director is in fact a professional trustee.
Corporate trustee
An entity (which may be in the employer’s corporate group) which acts as trustee for one or a series of schemes in relation to that employer group.
Please note: this is not the correct option to choose where the trustee performs its trusteeship for profit.
Individual trustee types
Appointed by the regulator trustee
An individual appointed as a trustee by the Pensions Regulator.
Employer-appointed trustee
An individual appointed as trustee by an employer in relation to the scheme.
Member-nominated trustee
An individual nominated as a trustee through a process in which at least the active members and pensioners (or bodies representing them) may participate and selected by a process in which at least some members may participate.
Professional trustee
A professional trustee is a person (whether or not incorporated) who acts as a trustee of the scheme in the course of business of being a trustee. Someone will normally be considered a professional trustee if they have represented or promoted themselves to the trustees or sponsors of one or more unrelated schemes as having expertise in trustee matters generally (rather than just in certain areas), whether for remuneration or otherwise. An unrelated scheme is a scheme where they have never been a member (either of that scheme or a scheme with a sponsoring employer in the same corporate group ) and they have never been employed by, or been a director of, any participating employer in the scheme (or any employer in the same corporate group). Please see our professional trustee description policy for a more detailed explanation and examples. www.thepensionsregulator.gov.uk/docs/professional-trustee-description-policy.pdf
However, where relevant, we will consider on a case by case basis whether any trustee or trustee director is in fact a professional trustee.
Trustee contact details
If the type of trustee is corporate, you will also need to provide contact details for the corporate trustee organisation, for example the switchboard number and generic email address.
In addition, please provide the name and contact details for a person at the corporate trustee who takes an active role in relation to the scheme – in other words, please provide details for an individual that the regulator can use when it wishes to contact the corporate trustee.
If the type of trustee is corporate or individual, please provide the individual’s direct telephone number. For example, provide the direct dial number or mobile number and not a switchboard number.
Please provide the individual’s direct email address. For example, provide the email address for the individual and not a general shared email address such as ‘info@’ or ‘admin@’. It is acceptable to use web-based email addresses such as‘@hotmail.com’.