AOverseeing pension schemes to ensure they operate within legal and best-practice standards
BControlling and setting national interest rates
CAdministering and collecting value added tax
DMonitoring the financial soundness of insurance companies
EAuthorising and reviewing business mergers and takeovers
✓ Correct answer: A. Overseeing pension schemes to ensure they operate within legal and best-practice standardsTrustees are responsible for the governance of pension schemes, ensuring that the scheme operates in line with legislation, scheme rules, and good administrative practice.
Why the other options are incorrect:
• Controlling and setting national interest rates: National interest rates are set by the Bank of England, not pension trustees.
• Administering and collecting value added tax: VAT is collected by HMRC; trustees play no role in tax administration.
• Monitoring the financial soundness of insurance companies: The financial soundness of insurers is monitored by the PRA, not trustees.
• Authorising and reviewing business mergers and takeovers: Business mergers and takeovers are reviewed by the CMA and relevant authorities, not trustees.
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