Medium sized DC pension scheme
After many years of being left to the good work of largely unpaid and untrained Trustees or HR managers, the pension industry has now become heavily regulated. All those responsible for providing pension benefits and managing pension assets are expected to meet the highest levels of governance. Trustees, advisors and employers need to act correctly – and also be able to prove that they have ‘done the right thing’.
Good governance is difficult to maintain and takes time. Creating and maintaining records, audit trails and the necessary tools are specialist skills. The challenge is to meet the new requirements while not overburdening those who manage schemes – and who are still largely unpaid.
We know that good governance requires accurate and complete record keeping and diligent processes. An understanding of future developments – such as legislative and regulatory changes and how these impact on benefit provision – is also essential. We can help with:
Our approach is simple. We combine experience with good process and pragmatism, to ensure good governance. This allows those responsible for management, such as trustees or company employees, to focus on the task in hand.