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Key stakeholders (Other advisers (Investment advisers, Accountants,…

- - - - Enhance its security
      - Ensure adequate disclosure
      - Restrict the amount of benefit and its tax advantages
- - - - Promoting pensions
      - Collecting contributions
      - Employer likely to have less control, but may incur lower running costs.
    - - Often encouraged by the State through valuable tax incentives
      - Employer can set the benefit levels, contribution levels and membership criteria
      - Employer able to set terms of the scheme including the distribution of the key powers between employer and trustees.
- - - - Trustees are holding the scheme assets on behalf on the scheme members and paying benefits to or on behalf of the members.
    - - Expected to act prudently, conscientiously with the utmost good faith
      - Main responsibilities
        
        control of trust assets
        
        financing benefits
        
        benefit administration
        
        exercise of discretionary powers
      - Have to bear in mind potential conflicts of interest, e.g. trustee/ member, trustee/ employer.
- - - - monitor the position of pension schemes (particularly larger schemes) and their sponsors to manage risks to that scheme or the UK pension protection fund (PPF)
      - ensure pension schemes are run properly by trustees and sponsoring employers
      - ensure DB schemes are properly funded
      - protect members of a pension scheme and to reduce the risk of a pension scheme failure
      - ensure contributions are paid to pension schemes
      - promote best practice