“The trustee training was a very well-paced overview which gave opportunity to explore ideas and question more deeply at key points.”
“In any major corporate transaction, time is of the essence. PSGS's pragmatic commercial approach helped us manage the pensions aspects of our group re-structure to ensure a positive outcome for all parties. ”
“The Trustee Training course is very good. Excellent coverage of material presented in an easy-to-digest manner and quality of presentation by both presenters. ”
“PSGS offered the right support at very short notice, at reasonable cost, when we really needed it”
“They have helped us save much more and created a cohesive plan to de-risk whilst building an integrated pension 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.”
Admittedly it is still relatively early days for integrated risk management plans (IRMPs) but I have a request… Can we please make them useful and easy for trustees to read?
A lot of work has been done in recent years to make communications for pension members more effective. I think many communications produced for trustees - be they IRMPs or other reports and documents tabled at trustee meetings - would benefit from the same treatment.
I may be over-simplifying it, but I don’t think advisers would go far wrong by thinking through these few questions before preparing a document for pension trustees:
How knowledgeable is everyone in the ‘audience’?
What are the key messages I want to get across?
Are there any metrics that need to be monitored and how do they relate to each other?
If so, how can they best be presented?
What decisions or actions do the trustees need to take based on the information I am providing?
How can I help the trustees to take those decisions most efficiently?
Having to plough through several hundred/thousand words is not the answer. Many of us like diagrams, charts, ‘traffic lights’ and other illustrations just as much as our scheme members do. After all, they are often the most effective way of getting the point across. The ‘techies’ amongst us can always dive into the detail at the back, if narrative and tables of data are consigned to appendices.
So, when you are developing an IRMP or next preparing another pensions report, please remember it is just as important to engage trustees as it is scheme members. We are only humans after all.