They are some of the biggest pools of investment capital in the UK, and yet they are historically run by boards of part-time trustees, meeting as little as four times a year. In the aftermath of the market crisis and the slump in funding levels the spotlight is being thrown on how pension schemes are run.

Financial News brought together six pensions professionals to discuss the challenges facing pension schemes at a roundtable sponsored by asset manager T Rowe Price. There were two scheme trustees - Simon McClean, chairman of the investment committee at the Commerzbank (UK) Pension Scheme, and Stephen Yandle, trustee chairman at the Vivendi Universal Pension Scheme.