Since its Trustee toolkit was launched ten years ago (in January 2006), approximately 180,000 modules have been passed. And during the past decade, the toolkit has been revised to keep it relevant to trustees. For example, in July 2014, four new learning modules were introduced to support TPR’s DC code and updated DB code.
In answer to user requests, the Trustee toolkit has been redesigned for use on tablets as well as laptops, PCs and for anyone using screen reader software.
The toolkit includes a series of online learning modules, assessments and downloadable resources developed to help trustees meet the minimum level of knowledge and understanding introduced in the Pensions Act 2004.
The revamped toolkit aims to provide a smoother experience for customers and is expected to drive an increase in tablet usage for trustee training.
Among new features is the ability to review assessment results so the trustee can focus their training on these areas. Trustees will also build up a 'history' of their assessments which will help scheme chairs and secretaries to evidence levels of training among their scheme’s trustees.
Chief Executive of The Pensions Regulator, Lesley Titcomb, said: “Trusteeship carries significant responsibilities and is increasingly challenging. So it’s crucial that trustees keep their knowledge up to date.
“New DC regulations require schemes to prove their trustee board has sufficient knowledge and expertise to run their scheme efficiently, while DB trustees have to manage funding, risk management and employer relations to try to ensure members get what they were promised.
“Some schemes have a proactive approach to trustee training but our research has shown there are persistent knowledge gaps amongst pension board trustees, especially regarding pension law and investments. Our Trustee toolkit can help trustee boards plug their knowledge gaps. As a starting point the toolkit’s Learning Needs Analysis tool helps trustees to identify where their gaps exist and what they can do to address them.”
“Thanks to these latest improvements, the toolkit is more accessible than ever before and we expect to see even more trustees complete it as they seek to gain the minimum level of knowledge and understanding.”
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