There are currently no positions at PTL.
When we launched our Master Trust proposition, we felt it was extremely important to appoint an independent trustee, and following a rigorous selection process we were delighted to appoint Pitmans Trustees Limited. Since our launch, we have continued to work closely with PTL and have strengthened our partnership. They are both pragmatic and positive in supporting our evolving developments, whilst still retaining a strong focus on good member outcomes.
At LV=, we use PTL to help us with issues where we need specialist help. For example, they have recently helped us with our governance arrangements, making sure that we have robust processes for dealing with investment strategy in periods of stress, and in negotiations with the employer on contributions. What they brought to us was a clear understanding of what best practice looks like today and a practical, impartial view of what is a sensible compromise between the needs of the scheme and the employer. In doing this they have always been at pains to ensure that the Trustees understand and agree with the actions being proposed.
Since their appointment across four defined benefit schemes in November 2010, PTL have provided a consistent, pragmatic and professional approach to the complexities of each scheme. Through PTL we have access to a wealth of experience which, for example, was especially invaluable when giving guidance relating to the legalities surrounding the CPI/RPI changes.
We have received years of sound advice on pension matters from PTL. Your continued participation gives us confidence that our team receives the professional and unbiased guidance in the governance of the scheme.
Since he was appointed, Richard Butcher has helped us to adopt a strategic and structural approach to the governance of our scheme. He wants to help the Trustees and the Company to achieve their aim of securing the members’ benefits.