Solicitors Professional Indemnity   iCLAIMS

Pension Trustee Liability Insurance

In recent years there has been a gradual transformation of pensions from the gratuity once offered by a benevolent employer into the binding legal entitlement it represents today.

Pensions have become the topic of debate in most executive boardrooms. Changes in legislation and recent court determinations are the latest culmination of a shift in the legal view of duties on pension trustees and others. This has resulted, explicitly and implicitly, in increasing the duties and obligations placed on trustees; a role which can attach personal liability if things go wrong.

Claims can arise from a variety of sources and for various reasons, but there are a number of protections available that can help reduce the liability exposure of a trustee. Trustees need to consider whether they are comfortable with the level of protection they are afforded should their decisions be challenged.

Being selected as a trustee is regarded as a position of honour within an organisation and as such brings significant amounts of Kudos. Trustees look after the pension savings of millions of people, choose to back or sack some of the most talked-about fund managers in the financial world and can exert a vast amount of influence in company mergers and acquisitions. However, being a trustee can often be a thankless task in an increasingly complex industry.

Considerable personal liability attaches to the role, so on appointment it is essential that you have a clear understanding of your obligations and rights so that you are in a position to discharge them properly.

  • Trustees are faced with a greater number of statutory duties brought into force by the Pensions Act 1995
  • A duty of care was subsequently imposed on trustees under the Trustee Act 2000
  • The Pensions Act 2004 introduced a number of changes to the duties and obligations of trustees including a new statutory requirement for 'knowledge and understanding'

Trustees who breach their duties or responsibilities may place their personal assets at risk should they be determined to be personally liable for any loss experienced as a result of their actions.

Marsh Professional Risks can work with trustees to ensure that comprehensive Pensions Trustee Liability Insurance is in place. Our team of dedicated specialists take a thorough 360-degree view of your business to advise you on the right product based on your requirements.  We can then ensure that you receive the most appropriate and competitive insurance quotation available.


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Marsh Ireland Brokers Limited, trading as Marsh Ireland, Bowring Marsh, Charity Insurance, Echelon Claims Consultants, Guy Carpenter & Company, ILCS, Insolutions, JLT Ireland, Lloyd & Partners, Marsh Aviation Consulting, Marsh Claims Management Services, Marsh Claims Solutions, Marsh JLT Specialty, Marsh Reclaim, Marsh Risk Consulting, is regulated by the Central Bank of Ireland.. Marsh Ireland Brokers Limited is a private company limited by shares registered in Ireland under company number: 169458. VAT Number IE 6569458D. Registered Office: 25-28 Adelaide Road, Dublin 2, Ireland, D02 RY98.

Directors: T Colraine (British), A J Croft (previously Kehoe), P G Dromgoole (British), J Flahive (British), J C Grogan, P R Howett, C J Lay (British), S P Roche, R I White (British).