Client feedback


​I would recommend them to anyone - I have dealt with a number of other independent trustee firms and would rate PSGS as the best. We are very happy with Mark and the service we get.
Julia Morton,
Camellia plc
These days, Boards need real expertise on tap (with excellent back-up) to cope with a constantly evolving and more regulated environment. PSGS is geared to delivering that.
Ray Pygott,
Partner at KPMG LLP
Where PSGS are appointed to act in conjunction with an existing body of trustees, we have found that they are quickly able to fit in well and gain the trust and respect of their co-trustees.
Duncan Buchanan,
Partner at Hogan Lovells
It’s a pleasure working with key members of the PSGS team: their experience and leadership means that they know how to get the job done, working in partnership with fellow trustees, employers and advisers to achieve the best result for members.
Mark Smith,
Partner at Taylor Wessing
The work that has been done has been delivered beyond expectations.
Head of Trustee Services
​They are very proactive and full of new ideas, they've brought better scheduling and better minute sets.
Paul Rudd,
Express Newspapers
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Pensions risk management

Understanding and managing risk is an integral part of running a scheme and achieving good pension scheme governance.


The Pensions Regulator’s (tPR) code of practice for funding defined benefit (DB) schemes focuses on pension trustees adopting an integrated approach to three key areas of risk:

1. the employer covenant
2. investment
3. funding

These three risk areas interact so each must be identified and assessed before pension trustees can make informed decisions on key pensions management issues such as setting scheme investment and funding strategies. These risks should then be monitored using a risk management framework proportionate to the size of scheme and budget available.

Pension scheme risk management is not simply a case of protecting against negative events - monitoring investment and funding risks enables pension trustees to plan de-risking strategies. In future, pension fund trustees may need to move away from using a single risk register - having a clearer distinction between operational and strategic risks may be beneficial.

To assess whether there are any gaps in your pension trustees’ risk management planning, ask yourself:

  • Do the trustees fully understand the risks faced by the scheme and the interaction between those risks?
  • Are the trustees comfortable with the level of risk being taken?
  • If any risk is excessive, have the trustees considered what action could be taken to reduce the risk?
  • Is there a framework in place to monitor investment, employer covenant and funding risks?
  • What would happen in the event of a significant change in investment returns, employer covenant or funding level? Is there a strategy in place to take mitigation actions?
Pension scheme risk reviews

An independent review helps demonstrate the importance you place on good pension scheme governance and compliance, as well as helping ensure you are meeting legal requirements and reflecting best practice guidance.

The Punter Southall Governance Services risk review:

  • tests the adequacy of your internal controls
  • checks the effectiveness of scheme policies
  • assesses the accuracy, efficiency and compliance of pension scheme management procedures, such as key administration tasks and your trustee discretion process
  • helps you better understand the full range of pension scheme risks and develop an integrated risk management framework

Like all PSGS’s pension scheme services, our risk review is tailored to suit the size and complexity of your scheme and your particular requirements, but can be based on one of our core review packages:

  • Essential: an ideal initial, high level assessment, or regular review within a formal governance framework
  • Advanced: a more in-depth review, either to give an extra layer of confidence or because there may be an issue that needs attention

To find out more about our pension scheme risk reviews and how they might benefit your scheme, contact us to talk it through or request our risk review service flyer.

Speak direct to our specialist in this area

Picture of Clare Owen independent trustee at PSIT

Clare Owen

Director of Outsourced Pension Services

Or call us on:

0845 313 0024

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Call: 0845 313 0024

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