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Form of work PROFESSIONAL PENSION TRUSTEE FIRMS...what's all the fuss about?
2023 saw a continuation of the huge growth across the professional pension trustee industry, and 2024 shows no sign of this slowing down, with the high level of activity in the DB industry (including preparing for buy-in, GMP equalisation, and the introduction of TPR's general code of practice which aims to improve pension scheme governance, heightened demand for Professional Trustees (and the imminent retirement of many existing trustees) among DB and DC pension schemes, together with the broadening of services offered by Professional Trustee firms, including outsourced pensions management, outsourced CIO services, and investment oversight and selection services being just some examples.
But why are so many people moving to Professional Trustee firms and what's in it for you?
WHY JOIN A PROFESSIONAL TRUSTEE FIRM?
There are many reasons to join a Professional Trustee firm, including:
- Clear career path
- Opportunity to join a growing firm in a growing industry
- More client-facing opportunities
- More flexible employers
WHAT'S IN IT FOR YOU?
As well as a what is often described by recent joiners as a "better work-life balance", professional pension trustees offer competitive salary and benefits along with support in pursuing professional qualifications and becoming an accredited pension trustee.
Bonuses vary by individual firm, but here's a rough guide to salaries within the Professional Trustee market illustrating the salary progression that comes with the clear career path:
- Assistant Manager: £35k to £50k
- Manager: £50k to £80k
- Associate Director: £80k to £100k
- Trustee Director: £100k to £150k
If you'd like to know more about opportunities at Professional Trustee firms - or perhaps you already work for a Professional Trustee firm and want to have a confidential chat about current opportunities or to benchmark your current salary in what has become a very competitive market - please get in touch or apply below with your CV...
