The trustees of a scheme or trust RAC are required to establish essential functions, including risk management, internal audit, and, where relevant, actuarial functions. It is imperative that these key functions operate independently, particularly the internal audit, which cannot be combined with other roles. This separation is critical for maintaining objectivity and fair governance.

Trustees must also be vigilant about conflicts of interest when personnel serve dual roles within both the scheme or trust RAC and the employer. They are to implement written protocols to manage any potential conflicts effectively. Reporting obligations on material findings to the trustees ensure that necessary actions are taken to uphold compliance and regulatory integrity.