“I enjoy working with PSGS and we have a very positive relationship. I was new to pensions and found them very helpful.”
“Excellent service - as expected and why PSGS was chosen.”
“Excellent communication - the trustee training course facilitators were clearly knowledgeable and very experienced in their field and able to convey concept and information in a way I was able to understand. ”
“The Trustee training was very interactive and the presenters were engaging - thank you.”
“In my experience, not all professional trustees are able to cope with tricky or potentially confrontational situations. I find PSGS has massive experience in getting involved, earning the respect of others and resolving such issues. They get stuck in – they are a first rate team.”
“We now have a very collaborative approach between trustees and employer.”
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
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:
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:
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:
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.
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