“They have helped us save much more and created a cohesive plan to de-risk whilst building an integrated pension team.”
“They deliver above expectation when the scheme has a particular challenge.”
“Ever increasing regulation has placed a heavy burden on trustees both in terms of time and the risk of non-compliance. PSGS has the experience and the resources to help trustees manage these burdens.”
“I enjoy working with PSGS and we have a very positive relationship. I was new to pensions and found them very helpful.”
“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.”
“PSGS was chosen because of their knowledge of the subject and awareness of our particular schemes.”
Well, it does all feel a little déjà vu doesn’t it?
While Boris and Brussels are having a ding dong (or not as the case may be), the unfortunate truth is pension trustees do need think about Brexit. The stakes seem to be getting higher and pension scheme secretaries should suggest key points to consider are added to the agenda for the next trustees’ meeting – many of which will fall in the September/October window.
I’ve also suggested adding Brexit wording into the Chair’s message on member newsletters and flagging issues to the Chair or governance committee, as we definitely need to ramp up the risk register. This is actually a great opportunity to test how well your pension scheme’s risk management process is working in practice.
Earlier this year, the Pensions Regulator released some support information on how to prepare your scheme for Brexit and the Pensions and Lifetime Savings Association launched its pension trustee’s Brexit to do list. They were issued before ‘no deal’ became a more likely outcome, which pension trustees will definitely need to keep in mind when considering the issues raised.
For me, the top three points all pension trustee boards should be considering are:
There may, of course, also be very specific issues to your pension scheme. Perhaps you have a significant group of pensioners or deferred members living in the EU. Maybe your scheme administration will be affected. Don’t let these issues pass you by as they may come back with a bite.
Although we’re all a bit bored of it, I’m afraid to say we do need to think about Brexit. It’s for our pension scheme members after all.
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Well, it does all feel a little déjà vu doesn’t it? While Boris and Brussels are having a ding dong (or not as the case may be), the...