There are currently no positions at PTL.
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.
Mabey Holdings Limited and the Trustees of the Mabey Pension Scheme were finding the burden of keeping all company and Member Nominated Trustees up to date and compliant with all legislation. This was becoming unduly time consuming and costly. Additionally, conflicts of interest were becoming a significant issue. PTL was initially appointed as an additional Trustee and demonstrated a practical, pragmatic and professional approach during a very difficult period. Two years on, PTL is now the sole Trustee of the Mabey Pension Scheme.
We appointed PTL in 2008. We have found this appointment to be one of the best decisions we have made. It has allowed us to:
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.
As our Independent Trustee Director, Richard Butcher delivers considerable experience, successfully gained the confidence of the Founder as well as the trust and respect of the remaining trustee directors. Our decision to appoint an Independent Trustee was driven by our concern about the cost of the scheme and its effect on the business.