“PSGS was chosen because of their knowledge of the subject and awareness of our particular schemes.”
“PSGS were overall more professional than others.”
“They are very proactive and full of new ideas, they've brought better scheduling and better minute sets.”
“The team provide an excellent service with practical and commercial input that we have not found with anyone else.”
“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.”
“When requesting information by email, I have noticed that there is 'out of hours activity' to answer me. I regard this as a stand out 'above and beyond' - impressed.”
The requirement applies to all providers of contract-based workplace pension schemes, including group personal pensions (GPPs), group stakeholder pension schemes and group self invested personal pensions (group SIPPs).
The type of pensions governance committee you need depends on how large and complex the scheme you operate is.
These governance committees will act in the interests of pension members, assess the workplace pension scheme's value for money and, when needed, raise independent challenge to you, the scheme provider.
Independent Governance Committees (IGCs) must have a minimum of five members, including an independent chair.
Providers of smaller, less complex schemes may appoint an independent third party to act as a Governance Advisory Arrangement (GAA).
We can also provide professional secretarial services to pension scheme governance committees to ensure they are run efficiently, decisions are accurately recorded and actions are promptly followed up and managed.
To find out more about how we can help your IGC or GAA be truly effective, please contact us to talk it through.
Trustee board effectiveness questionnaire
Trustees still conflicted between fiduciary duties and ESG goals
Master trust selection and transition
Social policies in pension schemes
Risk & Scheme Funding Forum
The TPR Single Code
Value for members assessments - what trustees need to do