V-FM Pensions #146: Pan’s Nicholas Chadha

2026-02-13

In this episode of V-FM Pensions hosts Darren and Nico chat to Pan Trustees' Nicholas Chadha to explore what value for money means in modern trusteeship. Nick reflects on his journey from actuarial adviser to professional trustee, and shares insight into schemes at very different ends of the spectrum, from those entering the PPF with recovery plans acting as a drag on sponsors, to schemes managing surplus and difficult decisions around how it should be shared between members and...

In this episode of V-FM Pensions hosts Darren and Nico chat to Pan Trustees' Nicholas Chadha to explore what value for money means in modern trusteeship.

Nick reflects on his journey from actuarial adviser to professional trustee, and shares insight into schemes at very different ends of the spectrum, from those entering the PPF with recovery plans acting as a drag on sponsors, to schemes managing surplus and difficult decisions around how it should be shared between members and employers.

We discuss the ins and outs of the innovative Aberdeen Stagecoach deal as part of a wider conversation about future options for DB schemes. We also chat about barriers for schemes moving to superfunds and conflicts of interest within professional trustee firms.

Nick makes the case that true value for money isn’t about defaulting to industry orthodoxy... it’s about spending wisely, challenging assumptions, and ultimately improving outcomes for members.

Comments (3)