So frequently is the term “onerous fiduciary duties” drummed at retirement fund trustees that it beats with a hollow monotony. Sure, trustees and service providers will say, they’ve complied, and usually they have or at least can produce defences that they had. But every now and then unusual events occur that will challenge more than an ability to tick boxes.

Two recent high-profile situations are extraordinarily tricky. One arises from the inquiry of the judge-led commission into the Public Investment Corp (PIC). The other is in the contentious dismissal by Old Mutual of CEO Peter Moyo.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now