Governance

Helping you achieve and demonstrate best practice

In today's challenging environment, effective risk management controls and procedures are seen as key to well run pension schemes, good governance must therefore be high on the agenda for every trustee body.

So what does good governance look like? How can trustees be sure that their scheme is being well governed? How do you demonstrate good governance for a diverse audience comprising the members, advisers (who are all whistleblowers), the scheme auditor and the Pensions Regulator? How can you be sure any independent assessment of your existing procedures and controls is truly independent and objective?

Based on our extensive expertise in regard to the provision of independent trustee services, secretariat, trustee training and risk management services, Pi has established a formal governance service to help trustees in any of these areas. It pulls together all the components for establishing and implementing effective governance principles and processes.

Our governance service:

Establishes clear principles and processes to enable trustees to act at all times in the members' best interests
Reviews existing governance principles and practices
Contains and controls the cost of compliance within a manageable budget
Demonstrates value for money against all expenditure

The Pi governance service is designed for anyone with an interest in ensuring sound pension scheme management.

“Pi carry out an annual review of our Administration service. This review gives “comfort” to the Trustees and forms part of their ongoing due diligence checking. It keeps the Administrator on their toes (in a positive way) and an independent outside look in always highlights areas for continuous process improvement. Pi’s annual review ensures that no hidden nasties are lurking in the background!”

UK Pensions Manager, membership circa 30,000; assets under management in excess of £1.5bn