At the end of 2024, our Pensions Management Consulting (PMC) team completed the 9th biennial survey of trustee pay.
We have seen a significant increase in participation of approximately 40% since 2022, alongside a shift in the size distribution of participating schemes, with fewer schemes with asset sizes over £5 billion and more with assets up to £1.5 billion. The largest proportion of participants continue to represent defined benefit (DB) schemes, with only 2% purely defined contribution (DC) schemes participating (down from 5% in 2022).
While our survey continues to cover the core components of trustee pay, board composition, time commitment etc. for the first time, the survey touches on participants’ use of and confidence in using Artificial Intelligence (AI) tools, and the extent to which they believe it could be useful in the future.
As always, the full report with further analysis and insights is provided to those that participate, therefore if you would like to register your interest in participating in the next trustee survey and obtaining the full report, please do so by following the link below.
