Client feedback

The team provide an excellent service with practical and commercial input that we have not found with anyone else.
Mark Culwick,
Binding Site
We chose PSGS because of the experience of the team and the feel of the relationship seemed the right fit.
Paul Staniland,
Chair of Governance Committee, Kier Group Pension Trustees
The team provide an excellent service with practical and commercial input that we have not found with anyone else.
Mark Culwick
Highly informative. Having leading professionals deliver the TKU course really adds value.
Jonathan Williams ,
Bangor University
The Trustee Training course is very good. Excellent coverage of material presented in an easy-to-digest manner and quality of presentation by both presenters.
Jonathan Williams ,
Bangor University
We now have a very collaborative approach between trustees and employer.
Peter Millard,
Company Secretary, TRL Limited
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Pension governance consulting

A good pension scheme needs good governance. It requires strong strategic planning, operational effectiveness and a firm grip on compliance.

PSGS governance consulting services helps pension trustee boards, pensions managers and in-house pensions teams with a range of strategic and operational support, including:

Case study: Trustee policy review

A raft of policies had been adopted by this client when the corporate pension Trustee was set up in 2017, with others added in subsequent years. As a great deal has changed over that time, we reviewed the full suite of trustee policies.

The outcome

Whilst some of the pension trustee’s policies required few or no changes, others had clearly become out of date. Our proposed amendments were tabled in the papers for review at the next pension trustee meeting.

Trustee policies and plans that needed updating included:

  • Anti-money laundering – to reflect recent changes following an HMRC consultation.
  • Benefit information & discretionary benefits – this had not been maintained and, as much had been picked up under operational procedures, we felt it could be deleted.
  • Budget – to reflect a revised pension adviser fees process.
  • Member Nominated Directors – we suggested updating this in conjunction with a review of the Trustee structure, protocols and sub-committee terms of reference.
  • Business contingency plan & serious incident response plan – in the light of the pandemic experience and to reflect updated regulatory guidance.
  • IDRP – we recommended changing this from a two-stage to a one-stage process which should result in quicker resolution of complaints.
  • Cyber security – this new policy was needed given the heightened risks surrounding online security, particularly as the launch of a new member website increased this risk.

Case study: covenant self-assessment

Our client’s pension trustees decided not to obtain an independent covenant review, but needed help documenting their own assessment to formally record their considerations and evidence.

Read the full case study

If you need some strategic support for your pension scheme, have a resource gap to fill or pension project to complete, get in touch for a chat about how PSGS can help.

Speak direct to our specialist in this area

Picture of Julie Karavis pension scheme secretary at PSIT

Julie Karavis

Scheme Manager

Or call us on:

0118 207 2900

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