Welcome to the Trustee toolkit the most popular way for trustees to meet the level of knowledge and understanding required by law.

12 learning modules

12 assessments

130+ resources

  • Five core modules for all scheme types.
  • Seven extra modules; four for DB schemes, two for DC schemes and one for all scheme types
  • 18-22 hours of free trustee learning.
  • Test your knowledge and add your achievements to your development record.
  • Download, save, print and share your development record.
  • Download the learning as bite size PDFs, learn offline wherever and whenever you want.
  • Resources include a sample risk register and a glossary of charges.

What modules are included?

The modules are split into core, scheme specific and additional learning.

Core learning for trustees of all scheme types with 12 or more members.


Tutorials included

Average completion time (mins)

Introducing pension schemes

  • What is a pension scheme?
  • Benefits
  • What is a trustee?
  • Important documents

The trustee's role

  • Becoming a trustee
  • Trustee meetings
  • Conflicts of interest
  • Duties and powers
  • Trustee liabilities and protections

Running a scheme

  • Scheme governance
  • Risk management and internal controls
  • Scheme administration and member data
  • Introducing advisers and service providers
  • Appointing advisers and service providers

Pensions law

  • Pensions related legislation
  • The Pensions Regulator
  • Tax and the state pension
  • Internal dispute resolution procedure

An introduction to investment

  • Investment in a pension scheme
  • Setting an investment strategy
  • Types of asset – Common assets
  • Types of asset – Alternative assets
  • Capital markets and economic cycles
  • Risk and reward
  • Active and passive management
  • Suitability and diversification
  • Reviewing investments

Essential learning for trustees of DC only and DC sections of hybrid schemes with 12 or more members.


Tutorials included

Average completion time (mins)

How a DC scheme works (2014)

  • Good member outcomes
  • Contributions
  • Transaction processing
  • Value for members and charges
  • Decisions at pension age
  • Member communications
  • Managing advisers and service providers

Investment in a DC scheme

  • Setting the investment strategy
  • Default investment options
  • Alternative investment options
  • Charges
  • Managing performance

Essential learning for trustees of DB only and DB sections of hybrid schemes with 12 or more members.


Tutorials included

Average completion time (mins)

How a DB scheme works

  • The basics
  • Managing the liabilities
  • Employer covenant
  • Risks to employer covenant
  • Implications of winding up a DB scheme
  • Corporate transactions

Funding your DB scheme

  • The statutory funding objective
  • Valuing the scheme’s liabilities
  • Calculating the liabilities
  • Impact of assumptions
  • Individual and bulk transfers
  • Additional employee funding

DB recovery plans, contributions and funding principles

  • Determining the contribution rate
  • Accrued benefits funding methods
  • Recovery plans
  • Future service funding methods
  • Agreeing a schedule of contributions
  • The statement of funding principles

Investment in a DB scheme

  • Understanding investment strategy
  • Changing asset and liability values
  • Future projections and scenario analysis
  • Stochastic modelling
  • Changing the asset allocation strategy
  • Reviewing the investment strategy

Additional learning module for all schemes


Tutorials included

Average completion time (mins)

Pension scams

Three interactive case studies to work through, covering:

  • Familiar schemes
  • Questions and warning signs
  • Due diligence and communication

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Last modified: Monday, 31 January 2022, 10:15 AM