The Pensions Regulator

Trustee knowledge and understanding

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The Trustee toolkit

It is important for trustees to recognise that the requirement for knowledge and understanding, as described in the code of practice, applies equally to all trustees. The code contains help and practical guidance about how trustees might set about fulfilling the requirement. It also recognises the value of the Trustee toolkit our free e-learning programme, in helping trustees identify and remedy any gaps in their knowledge and understanding.  

Although designed primarily with trustees in mind, the toolkit is available to anyone who wishes to use it. The core learning programme consists of 11 modules which cover the whole of the scope guidance. Largely based on case studies, it is highly interactive, with the learning delivered using a variety of techniques such as audio or video snippets, and self-assessment. It allows for a different path for each trustee according to the type of scheme and their own experience.

The first few modules cover the basics, preparing the ground for a more in-depth exploration of such matters as scheme funding. The final module, released in May 2007, is set over a typical scheme year and looks at the good practices involved in running a trust-based scheme.

The programme should be sufficient for most trustees, although those from large or complex schemes may feel they need to supplement it with further learning of their own. Additionally, for trustees who find themselves in specific circumstances, such as facing wind-up or considering bulk annuity purchase, the Trustee toolkit  contains additional 'just-in-time' learning.

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