First Lay Trustee accredited by the Pensions Management Institute
The Pensions Management Institute (PMI) has accredited Neil Calvert, the first Lay Trustee to be accredited by the Pensions Management Institute (PMI). Calvert is an employee representative on the Derbyshire (LGPS) Pension Board.
The PMI’s new lay trustee accreditation was launched last month to enable lay trustees to demonstrate a high degree of competence in driving best practice decision-making and so they can navigate the complex challenges of modern scheme governance. Backed by the TPR who support improved pension scheme governance and trusteeship standards, this optional qualification sets a high bar, ensuring that accredited lay trustees demonstrate best practice professional standards.
To become accredited Calvert completed both parts of the PMI’s Certificate of Pension Trusteeship, which was originally designed for professional trustees. To maintain his accredited status, Neil will be required to complete 15 hours of relevant continuing professional development (CPD) and complete any new or updated modules in TPR’s Trustee Toolkit.
Even though the qualification is not mandatory, the programme has been well-received by trustees and their schemes across the sector with more than 10 lay trustees already underway with the accreditation process.
In addition to his role as a lay trustee, Calvert is also CEO and Principal of the Co-operative College, an educational charity dedicated to empowering individuals and communities to build a fairer world through co-operation. He also serves as the Remuneration Committee Chair, and the Vice-Chair of the Governing Council, at the University of Derby.
Gareth Tancred, CEO of the Pensions Management Institute, says:
“I would like to congratulate on behalf of the PMI Board and Advisory Council for being the first lay trustee to achieve accreditation. Our accreditation programme has been built to professional trusteeship standards. This means the qualification demonstrates that Neil has a high degree of competency in driving best practice decision-making and that he can help his scheme to navigate the complex challenges. We’re committed to maintaining the strength of this accreditation by continuing to meet the ongoing professional development needs of trustees.”
Calvert says: “Joining a pension board can be a daunting proposition. The lay trustee needs to be able to demonstrate not only a broad understanding of the key concepts but also the behaviours and soft skills needed to engage effectively in the decision-making process. Studying for the PMI exams has provided me with professional development which is relevant, current and of high quality, and I am delighted to be the first to achieve this new accreditation for lay trustees, which should provide assurance that they will be well equipped to contribute fully to the running of complex pensions schemes in challenging times.”