Employees as Trustees - Conflict of Interest
- Trustees cannot act lawfully when unduly influenced by a conflict of interest;
- A conflict of interest can impact on the validity of a trustee decision and on the management of the pension scheme;
- The Pensions Regulator has issued guidance around conflicts of interest;
- Trustees need to understand, identify and manage conflicts of interest including adviser conflicts;
- Trustees should adopt a conflicts of interest policy;
- A conflict can arise in relation to confidential information; and
- Separate Companies Act 2006 requirements apply to trustee directors.