Governance audit

Our governance audit seeks to provide an objective assessment of the scheme’s governance on a holistic basis and to provide practical and robust recommendations of best practice.

Our governance audit analyses how the pension scheme is run, how the relationship between the employer, trustees, advisers and service providers works, what actions can be taken to minimise risks and costs and improve efficiency and accountability and looks ahead at the robustness of systems.

There are a number of occasions that might prompt a sponsor or trustees to consider a governance audit.

Due diligence on transactions may reveal issues that deserve review, which is likely to be particularly valuable if conducted independently from those connected with the scheme or transaction. Investors may find such a review particularly helpful.

Issues such as cost, adviser performance and actual or threatened intervention by the Pensions Regulator may prompt review – but there are others, such as increasing concern about pensions as a source of reputational damage and the need to look ahead at the challenge of further regulatory change.

The governance audit will examine whether responsibility and lines of accountability are clear and the extent to which the terms of adviser and independent trustee appointments, trust deed and rules and any trustee insurance work together-or whether they lead to unnecessary gaps or duplication. It will also include consideration of the role responsibility and protection of employees of the sponsor who may work on the scheme.

With over 30 years’ experience and an insight into future likely regulatory change, we believe we can give an overview that most others can’t. We see the big picture and will make practical recommendations. We are independent. We are not hampered by conflicts or by the wish to offer a wide range of services. Our service is discreet and can be used without upsetting other advisers or signalling change when it may not be necessary or may not affect them directly.


Managing risks in DC plans

As the global movement to DC plans continues to evolve and grow, so do the challenges. In this paper, originally written for the International IPEBLA Conference in May 2015, we determine how best to identify and manage risks in the new DC plan universe, exploring employer liability in relation to provider selection, as well as [more…]

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