Discover my top tips
Be conversant with the scheme and relevant statutory provisions and always act in accordance with them. Appreciate when you need to employ the services of others to ensure the decisions and functions are properly executed.
Bear in mind that, in the Pension Regulator’s view, a good relationship with an adviser is one where you feel comfortable in requesting clarification and confident in challenging advice that you're unsure about.
Where the governing provisions of your scheme allow you to delegate a power and you do so, you remain accountable for the actions taken. It is important that you establish, operate and maintain adequate internal control mechanisms to monitor the performance of the person acting for you.