Guide to Good Pension Scheme Governance

Our five building blocks to good governance are designed to empower trustees with the right knowledge, tools and strategies.

Your 5 building blocks to good governance

Our five building blocks for good pension scheme governance helps trustees identify and manage both risks and opportunities as
they arise, with cost-saving efficiency.

By emphasising trustee support and training, clear member communication, dynamic business planning, advanced digital tools,
and effective collaboration, trustees can enhance the performance and success of their pension schemes.


Trustee support and training

Have a helping hand to keep on top of regulatory and legislative compliance on governance matters for your scheme. This minimises the risk of particular issues falling between the cracks.

Our team has a network of Knowledge Champions focused on researching particular industry topics.

This identifies trustee training and development needs, to help trustees comply with their Trustee Knowledge and Understanding obligations.


Clear member communication

It is useful to give members as many communication options as possible. We help members connect better with their pension in multiple ways:  our secure online platform, our dedicated telephone service, by email or by post.

We use clear and concise language and avoid pensions jargon. A quick response time to any queries can also lead to higher levels of member engagement.


Business plan and risk register

A pension scheme’s Business Plan and Risk Register are ‘live’ documents – not just tick-box checklists. Ensure they are reviewed and updated regularly, setting the stage for the efficient management of the Scheme.


Smart tools

Documentation and reporting is at its most effective when it is in electronic format, making it accessible to all relevant parties.

We have developed a user-friendly and intuitive e-governance solution to give trustees access to scheme administration, actuarial and investment reporting anywhere, anytime, from any device.

Our e-governance model uses Microsoft Teams as a hub for all key scheme documents. Including minutes, meeting packs and investment reports. All documents are hosted securely for viewing, downloading and editing, with a full audit trail.

We can provide comprehensive training and support for trustees and scheme secretaries.


Collaboration between all parties

The goal is for the trustees, sponsoring employers and external advisers to work in close partnership. Hold regular meetings, both formal and informal, to maintain a comprehensive knowledge of each pension scheme and confirm that all advice and activity is being driven in the same direction.

We find clearly defining roles and responsibilities from the outset is helpful so that trustees, advisers and service providers are clearly identified. Where appropriate, delegate certain decision to individual trustees or sub-groups to keep focus and maintain momentum.

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