Pensions Minister, Paul Maynard, has refused to rule out plans to introduce mandatory accreditation for pension scheme trustees in the future, clarifying however, that improvements in the supply of trustees are needed first.

The Department for Work and Pensions (DWP) previously held a joint call for evidence to deepen the evidence base around trustee capability, which also considered whether there should be a register of trustees and whether trustees should have mandatory accreditation.

Following this, the DWP confirmed that it would be looking to support The Pensions Regulator (TPR) in developing a register of trustees.

However, Work and Pensions Committee (WPC) member, David Linden, queried this decision, noting that the majority of respondents also favouring mandatory accreditation for professional trustees.

He also cited previous evidence from TPR interim director of regulatory policy, analysis and advice, Louise Davey, which revealed that the regulator also strongly supports further accreditation standards, but "[does] not have a commitment for legislation in that space.”

Given the support from industry stakeholders and regulator, Linden asked "why is the DWP so laid back when even the industry knows that simply encouraging [accreditation] clearly isn’t working?".

"I don’t think we are laid back at all," Maynard clarified, arguing that the vast bulk of trustees, whether voluntary or professional, are doing a good job; they are knowledgeable and well equipped.

"That is why we moved down the path of a voluntary register at this stage and are looking at how that progresses," he continued, emphasising that there is a slightly different landscape to consider for professional trustees specifically.

"There is a lack of supply, first and foremost," he said. "So the vision of having one on every board is quite optimistic at this stage. Roughly half the schemes over £5m already have a professional trustee on the board, which is good, but we need more."

However, while Maynard clarified that there has been no firm policy decision yet, he said that he would not rule it out, stating: "As we expand the supply of professional trustees, we will probably need to move towards mandating it.

"I have heard what you have heard from the stakeholders, so I am taking that into account."

When pressed for a timescale, Maynard explained that "when I say I am considering something, it means I have asked for advice - when I get advice, I can take a decision, and part of that decision taking is how fast you can pull the lever."

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