Trustee Board Governance

Pi Consulting can provide a professional and bespoke trustee pension scheme governance for the board of your charity.

What is a Trustee?

In  legal terms, a trustee is a synonym for any individual who has been placed in a position of trust. This refers to a person who holds a position of authority, property or a position of trust where they hold responsibility for the benefit of another. A trustee can also refer to someone nominated to the board which allows them to complete certain tasks without being able to gain income.

Why is trustee board governance important?

Good governance is vital for an effectively run pension scheme. There is a clear link between effective governance and good fund performance – a trustee  becomes an essential part of effective pension scheme management. With the right trustees who are knowledgeable, motivated and skilled, a board can then put in the right structures that can enable effective, timely decisions with clear pension scheme objectives. This will allow the trustees to effectively oversee administration, investment and communications between members.

A balanced board governance approach

A robust and balanced pension governance framework helps trustees to perform their role and meet their duties. It should be proportionate, focused and support effective management and oversight of the trust activities.  It also needs to be able to evolve to meet new legislation such as GDPR and the 21st Century Trustee consultation outcomes. Our experience in designing pragmatic board trustee governance solutions helps our clients adapt efficiently to change. All of this leads perfectly into a balanced pension scheme governance.

How can Pi Consulting help with your Trustee Board Governance?

• Board and committee operational structure – review current structures to promote clear delegation and decision making with an appropriate balance between strategic and operational focus.
• Trustee Board effectiveness review – an independent assessment of your Board with a view to helping drive a stronger team based approach. This will also include a pension scheme review.
• MNT selection – we can support MNT selection exercises by providing independent candidate selection support and running general trustee awareness days.
• Trustee knowledge and skills – online gap analysis through to formulating training policies and plans, alongside existing assessment approaches and training support.
• Risk management design – we can help design a practical and proportionate pension risk management framework that will help identify and manage key risks and controls.
• Adviser and provider management – independent support to help Boards establish key deliverables and management arrangements.

Our governance service and fees are tailored to meet the specific needs of your Trustee Board and work effectively with your existing resources. Our team are ready and waiting to extend their pension scheme trustee governance expertise to your charity.

Have a question? Contact us on 020 8879 6500 or enquiries@pipg.co.uk