Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Trustee Knowledge and Understanding definition

What does Trustee Knowledge and Understanding mean? Trustee knowledge and Understanding (TKU) describes the baseline legal and technical competence each occupational pension scheme trustee needs to govern a scheme effectively and prudently. In England & Wales and Scotland it is a statutory concept in the Pensions Act 2004 (with equivalent Northern Ireland legislation). It requires trustees to be conversant with their scheme’s governing documents and to have sufficient knowledge and understanding of trust law, pensions law, scheme funding and investment principles, to a level proportionate to their functions. The Pensions Regulator’s Code (now the General Code) explains how the duty should be met, including induction for new...

Trustee Knowledge and Understanding: statutory duties under the Pensions Act 2004 and TKU Regulations - scope, training, ongoing competence, governance, record-keeping and enforcement for occupational and public service pension schemes

Published by a LexisNexis Pensions expert

Practice notes

Save where exempt, pension scheme trustees—including directors of corporate trustees and, from 1 April 2015, members of the pension board of a public service pension scheme—have a statutory obligation to acquire and maintain an appropriate level of knowledge and understanding across specified pensions areas. This obligation is commonly abbreviated to TKU.

The TKU framework

The TKU duty is set out in:

sections 247–249 of the Pensions Act 2004 (PeA 2004)
the Occupational Pension Schemes (Trustees' Knowledge and Understanding) Regulations 2006, SI 2006/686 (the TKU Regs)

The Pensions Regulator (TPR) has expanded on the duty in a range of guidance, including:

the General code of practice
guidance on scheme management skills for DC pensions
trustee guidance entitled ‘Understanding your role’

Which trustees are subject to the TKU duty?

Subject to the exemption outlined below, trustees of all occupational pension schemes are within the scope of the TKU duty...

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Web page updated on 22/05/2026

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