“I enjoy working with PSGS and we have a very positive relationship. I was new to pensions and found them very helpful.”
“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 are extremely pleased with the appointment we made. The way Ian reacts to us and works with us is brilliant. We are very happy.”
“I wanted to look at the effectiveness of our trustee board, so Gillian, our PSGS scheme secretary, provided their trustee self-assessment tool to help me gather thoughts and opinions from others on the board. The tool was extremely easy to use and asked all the right questions to help me collect the information I needed as Trustee Chair. It is a great example of the way PSGS shares knowledge with their clients and makes dealing with key governance issues easy. As well as enabling me to meet one of the Regulator’s 21st century trusteeship requirements, using the tool has flagged trustee training needs and ways we could improve trustee meetings further. ”
“They have helped us save much more and created a cohesive plan to de-risk whilst building an integrated pension team.”
“We now have a very collaborative approach between trustees and employer.”
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.