Trustee Knowledge and Understanding (TKU) remains central to effective pension scheme governance as the UK pensions landscape evolves. With consolidation, regulatory reform and new scheme models reshaping the market, trustees must balance rising expectations with proportionality and member focus. Strong governance frameworks, diverse boards and ongoing professional development are critical to navigating complexity. As change accelerates, trustees, advisers and pension managers must ensure skills, standards and oversight keep pace to deliver long-term value for savers and sustainable scheme outcomes.