Trustees lack confidence in advisers

\"Trustees are lacking confidence both in their advisers and also in their own ability to negotiate, according to a recent survey by ITS.

The survey, which canvassed views of 65 schemes with assets of up to £330m. ITS found an overwhelming 97 per cent of respondents were confident in their ability to challenge their scheme advisers. But a significant minority was not confident in the quality of advice received, totalling 1 in 7 for investment and 1 in 10 for actuarial advice to help decide on assumptions such as mortality.

The research also found that 12 per cent of respondents were not very confident in their ability to negotiate robustly with the sponsor to agree funding assumptions and recovery plans.”