Workplace Pensions Consulting
Adding value to Employers
A governance committee can review your pension scheme and advisers to ensure you continue to offer an appropriate, valued scheme for your employees, whether that is an occupational trust arrangement or a group personal pension.
What we can do to help
As well as helping design and implement an effective framework to help you assess the ongoing value for money and performance of your scheme and your advisers, we can also help run the meetings and provide independent input to help focus on:
- Value for money – helping set clear objectives as to how you will determine value.
- Assessing your pension provider performance – this is all about measuring service standards, with particular reference to issues such as payment and investment of contributions.
- Performance of the default fund – the committee should regularly review the investment strategy and the default investment fund. It is important to put this into context and understand the limitations that may be imposed by the pension provider.
- Member communication – we would help to design the most effective method of measuring how happy your employees are with the scheme, your adviser and the effectiveness of the overall communications.
- Employer recommendations – your employer governance committee acts in a purely advisory capacity. It should identify any risks to the employer and scheme members and recommend ways to manage and reduce these risks.
Our governance service and fees are tailored to meet the specific needs of the employer and workforce.