Lay trustee and sponsoring companies overwhelmingly value the support offered by professional trustees when it comes to strengthening scheme governance, guiding decisions making and navigating an increasingly complex regulatory landscape.
Barnett Waddingham’s annual trustee survey found that 97 per cent of clients surveyed recommended appointing a professional trustee, with 95 per cent saying they provide good value for money.
BW says the results of this survey indicate there is clear evidence that professional trustees enhance overall board knowledge, bring external market insight, and increase confidence in decision-making.
Respondents also noted that professional trustees help boards achieve better outcomes for members through stronger governance and more robust processes.
The survey also shows there are a number of different reasons why professional trustees are apppointed, and typically this varies depending on the size of the schemes.
However despite high satisfaction ratings, the survey found that 70 per cent of respondents who do not currently work with a professional trustee said they had never considered appointing one.
Of these, three quarter (74 per cent) cited confidence in the existing trustee board’s experience as the main reason for not exploring the option.
BW says these findings suggest a continued need for market-wide awareness‑building, especially around the role and benefits of corporate sole trustees, where the survey indicates there remains ‘a step to go’.
BW partners and head of corporate sole trustee David Barnett, says: “Our research shows the strong value that professional trustees bring: deeper expertise, richer market insight, and improved confidence in decision-making. This leads directly to better governance and ultimately better outcomes for members.
“At the same time, the data highlights a real opportunity to raise awareness among schemes that have not yet considered professional trustees, alongside the need for further work in demonstrating the value delivered by the corporate sole trustee model.
“As the market continues to evolve, professional trustees will play an increasingly central role in helping schemes meet regulatory expectations and deliver member-first results.”
“Overall, the survey showcases a pensions landscape where professional trustees are already delivering high value, but where greater awareness and adoption remain key to strengthening governance across the sector, especially at a time where demand is growing for schemes to look at efficiencies and regulation.
“These findings can help trustees make informed decisions about whether professional trustee support could benefit their scheme in ensuring strong, future‑proof governance structures.”