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By Owen Walker
6-May-2008

The number of schemes finding it difficult to recruit trustees has increased by nearly a third over the past year, according to a survey by the Pensions Regulator.

The poll, released as part of the regulator’s annual corporate plan, shows the amount of schemes that admitted problems recruiting went from 15% to 19%.

But trustee search and selection firm Trustee GAAPS claims the situation could be even more pressing.

David Johnson, consulting director at Trustee GAAPS, said: “The growing burden of legislation, codes of conduct, and regulatory pressure to resolve conflicts of interest is all piling the pressure on part-time trustees.

“The role of a trustee is increasingly untenable as something people do in their spare time while keeping the day job.”

He added: “The problem is almost certainly worse than the regulator’s research suggests. There is a dwindling pool of trustees who are prepared to take on the responsibilities of the role on an unpaid basis, and a rising demand for paid, professional trustees.”