Madam, – I refer to Jerry Moriarity’s letter (July 9th) commenting on my address to the Irish Women Lawyers’ Association. It is accepted that most trustees of occupational pension schemes are representatives of the employer and generally perform their services on a voluntary basis.
The conference from which the quotes were taken, referred to pension schemes for the self-employed. Such schemes require professional trustees.
I know of no professional trustees who provide their services on a voluntary basis.
Trustees have an important governance role. People in general do not complain about the cost of a service when they feel they are getting value for money.
In circumstances where pension funds have decreased dramatically, questions need to be asked about governance and the wisdom of investment decisions.
It is very difficult to persuade people to provide for their retirement by means of a traditional pension when they see funds halved in many cases and nobody taking responsibility.
The better option may be to give the state its cut and consign the balance to the mattress. – Yours, etc,