Pension Scheme Governance and Trustee Board Governance

Pension Scheme Governance

Pi Consulting provides a range of professional and expert pension scheme governance and trustee board governance services. Our specialist governance consultants can ensure that your pension scheme is effectively managed and your trustee board is best placed to meet the strategic objectives of the pension scheme.

From record keeping, to working with advisers and managing conflicts of interest, Pi Consulting’s professional pension governance will provide support where necessary.

The Importance of Trustee Board Governance

Good trustee board governance and operational effectiveness are vital for a successfully run pension scheme. There is a clear link between effective pension scheme governance and excellent pension outcomes. Reviewing the operations of the Trustee Board, from an independent perspective, can help a board incorporate change and benefit from the practical experiences of other boards.

Good governance allows the Trustee Board to focus on strategic delivery but still be confident in the operational effectiveness of the pension scheme management.

A Balanced Pension Governance Approach

A robust and balanced pension governance framework helps trustees to perform their role effectively and successfully deliver the agreed scheme objectives. Trustee board governance should be proportionate, focused and support efficient scheme management. It helps a board strengthen to meet the changing demands of the scheme membership, employer objectives and new pension legislation.

Pi Consulting’s experience in designing and implementing pragmatic pension scheme governance solutions, helps our clients adapt to change, strengthen risk management by enjoying an independent perspective and enable trustees to focus on the key issues safe in the knowledge  they are meeting all regulatory requirements.

Pension Scheme Governance and Support

Board and committee operational structure reviews

Pi Consultants’ experienced governance consultants will help the Trustee Board agree the best operational structure to promote clear delegation and decision making through effective use of terms of reference within the agreed parameters.

Trustee board effectiveness review

Our trustee governance service can undertake an independent assessment of your board’s composition and assess skills to help promote a strong team-based approach. We help implement change by facilitating a workshop-based approach to agree priorities, identify areas for development and put in place an agreed timetable for implementation.

Member nominated trustee election support 

We support MNT elections in several ways, including providing independent candidate selection support and running general trustee awareness days.

Identify trustee knowledge and skills

Our governance specialists can design and undertake an online gap analysis to help the Trustee Board formulate training policies and plans. This can be designed to run alongside existing assessment approaches and training support.

Risk management design

Pi Consulting’s pension scheme governance consultants can offer additional help with designing a practical and proportionate pension risk management framework. This service can benefit trustee boards looking for an independent perspective on their existing risk management framework.

Adviser and contract management

Our professional consultants can deliver an independent service free of conflicts of interest and commercial sensitivities to help set adviser service levels and key performance indicators. We can provide overall contract management for all services, including agreeing reporting formats to the Board and ensuring strong budget controls.

We tailor our pension scheme trustee board governance service and fees to meet the specific needs of your trustee board working effectively with your existing resources. Our team are ready and waiting to extend their pension scheme trustee governance expertise to your organisation.

Contact us on 020 8879 6500 or email enquiries@pipg.co.uk.