Trustee board effectiveness
Evaluating the effectiveness of your pension trustee board is simply good governance (oh, and The Pensions Regulator thinks you should do it too).
Why review your trustee board’s effectiveness? A handful of reasons are…
- ensuring the trustee group is performing as well as possible - both operationally and behaviourally
- benchmarking pension trustee board processes, operation and effectiveness against others
- addressing a specific issue – for example in managing pension scheme advisers
- accessing independent expert opinion to gain fresh perspective and new ways of thinking
- reassuring the trustees or chair of trustees that internal review processes and development plans are adequate and effective
- demonstrating a commitment to improving governance to pension members, the pensions scheme sponsor or The Pensions Regulator
- assessing how well things are running following the appointment of a new chair of trustees
- putting in place development and succession plans
PSGS is perfectly placed to review the effectiveness of your pension trustee board. We are independent, impartial and objective. We have an in-depth understanding of the role of a pension trustee board and the workings of a pension scheme, with extensive experience of doing the job ourselves. We bring wider experience and new perspectives. Being independent means we can more easily ‘tell it like it is’ or deal with known issues diplomatically.
Pension trustee board review services
Our board effectiveness services are tailored specifically to your pension scheme, trustees and particular objectives. Typical elements include:
- trustee board self assessment toolkit - board effectiveness questionnaires, skills & competency framework etc
- collective trustee board assessment
- individual trustee evaluation, including capabilities and effectiveness
- strategic planning support
- review of operational effectiveness
- assistance with adviser management
- understanding & implementing diversity, equity & inclusion
- interim support through projects such as actuarial valuations, funding negotiations, GMP equalisation etc
Download our trustee board effectiveness reviews service flyer
Our board effectiveness partner
PSGS delivers trustee board effectiveness reviews together with the Non-Executive Directors’ Association (NEDA) - the leading independent member association dedicated to Non-Executive Directors (NEDs). NEDA provides a comprehensive range of practical education, training, mentoring, coaching and advisory services for NEDs at all levels, promoting:
- Leadership – helping board members think and act strategically, whilst providing the right level of independent challenge.
- Board effectiveness – ensuring boards have an appropriate balance based on experience, skills and broader diversity.
- Technical knowledge – promoting better understanding and capabilities in governance, finance, risk management and internal control.
- Personal development – focusing board members on setting personal objectives that provide a benchmark for measuring performance.
For more information please visit www.nedaglobal.com or email info@nedaglobal.com
Trustee board effectiveness is a big topic, so why not get in touch to chat through what’s on your mind and learn how we can help your pension trustee board develop and improve.