How IS Active Governance different from your standard GPP governance? Well, we believe that we should not be restrained by the Pensions Regulator guidelines. Whilst there is some really useful material in the TRPs notes, it is arguably more important to ask ‘how can this arrangement work better for the Company and our employees?’
By setting clear objectives that can have measurable success parameters agreed at outset, we can make sure that your arrangement meets the expectations of your employees, satisfies key business needs as well as meeting all regulatory requirements.
Governance meetings are focused, providing clear indicators of how your pension arrangement is performing and this helps you prioritise next steps and enables you to plan well ahead avoiding last minute panics and out of budget expenses.
Behavioral trends are identified to help predict future member requirements and a robust communications strategy is provided to encourage member engagement and understanding. The use of targeted multi-media communications addressing specific member needs can be more successful than a scatter gun approach and as with other areas of governance, the responses are monitored to enable the strategy to be constantly tweaked and improved.
We believe that Active Governance forms the foundation of a well-managed Pension arrangement and should constantly challenge the status quo. For more information on how this would work for you, please get in touch.