To what extent does your trustee board understand the various ways in which they might be protected if things go wrong and claims are made against them? It is a difficult topic to think about, as no trustee ever wants to be on the receiving end of a claim. If your trustee board has not considered trustee protection for a while, or if there have been changes to the trustee board, it is well worth revisiting this important subject.
Changes within the sponsoring employer can also impact trustee protection. An employer indemnity is commonly used to add a layer of protection to the trustees’ armour. But just how valuable are these protections and what may impact their value? My latest Pensions Life Hack offers some tips. For more information on trustee protection in general, see our Quick Guide.