Employees as Trustees - Conflict of Interest

Key Points

  • 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.
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