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ABOUT
We are a professional pension trustee company. Our CEO is Tony Clare. Tony has over 30 years’ experience in the UK pension industry. He was a partner within both KPMG LLP and Deloitte LLP. During his time at Deloitte he was also the leader of their pension business and a Board Member covering Europe and the Middle East.
Since leaving Deloitte, Tony has been appointed to the Board of the Civil Service Pension Scheme and to the Veterans Advisory and
Pensions Committee.
He is also a Chartered Insurance Practitioner, Fellow of the Pensions Management Institute and a fully qualified pension trustee recognized
by Aptitude.
Our experience of many pension issues enables us to provide leadership and confidence to lay trustees. Our business model gives us access to a wide range of specialisms including actuarial, legal, investment advisory and corporate finance etc. Plurality of experience and opinions leads to better decision making.
Probity goes to the heart of everything we do. We always act with integrity and in the best interests of the members of our pension schemes.
OUR ACCREDITATIONS
WHAT WE DO
Probity acts as an individual trustee alongside others on trustee boards. We work in collaboration with all stakeholders including the existing trustees, advisors and the employer.
We are also asked to act as the Chair of the Trustee Board and have experience of chairing boards and sub committees. We seek to build consensus, teamwork and help develop other trustee board members. We believe it is important for a Board to have the right range of skills and experience in order to perform well.
Probity will also act as a sole corporate trustee. Many smaller/mid-sized pension schemes are now looking to move to an independent Sole Professional Trustee model. This reflects the need to manage conflicts of interest and a shortage of company officers who have an affinity with the pension scheme or are willing to take on the role. It also allows company management to focus on running the business whist being confident the pension scheme is being well governed. Many schemes have been closed for over ten years and there are fewer and fewer employee members left who are willing to act as pension scheme trustees.
Probity will also act when there is a special situation, such as a transaction or an employer in distress. These appointments are often fixed term in nature, but our experiences help incumbent trustees deal with challenges which are new to them.
We provide independent professional pension trustee services to the following types of pension scheme:
Defined benefit
Hybrid
Defined contribution
Master Trust
We pay the right people the right pensions at the right time
WAR STORIES
26th May 2021
Many trustees are understandably nervous to change administrators. Trustees come and go from trustee boards and the administrators are often the “glue” which holds the long-term knowledge about a pension scheme. The reality is that no pension scheme should be
26th May 2021
We also have experience of Buy out contracts. In one case, the company was in danger of insolvency unless its bankers agreed a debt for equity swap. The banks would not proceed with the transaction unless the pension scheme was bought out completely. We rec
26th May 2021
We have experience of Buy in contracts. For one scheme, the pensioners were all secured with a household name insurance company via a Buy in policy. The process involved cleaning the data; securing competitive quotes; matching the investment strategy and agreeing the exe
