Trustee Defined Contribution Consulting

Increased regulatory focus on DC arrangements has meant that trustees need to take greater interest in this area than ever before. However, we recognise that this needs to be done in a proportionate way that is tailored to the scheme in question.

1. 01

   DC governance

   To help you comply with the legislation and implementation of the regulations, we developed our GovernanceFit tool, which is a software that allows a systematic assessment of scheme practice against the Pension Regulator's Code of Practice No 13 – the administration and governance of trust-based money purchase schemes – and reports on the level of compliance. The GovernanceFit output will enable schemes to prepare a robust and meaningful chair's statement, for inclusion in the trustees' report and account.

2. 02

   DC provider research

   Another area of increasing importance is the regulatory focus on value for members. Using the insights developed by our dedicated DC research team, we are able to monitor and assess DC providers and ensure you maintain appropriate oversight. For example, we are able to assess the quality of services provided, such as communication, administration and investment as well as benchmark the charges that members pay against the peer group of similar schemes or AVC arrangements. Using the results of this assessment, we can then recommend appropriate courses of action.

3. 03

   Pensions communications and engagement

   An important aspect of DC schemes is member communication and engagement. In particular, as a result of the introduction of 'pension freedoms' in 2015, members have many more things to think about and options to choose between. We can assist you in designing and implementing a suitable communications approach, including: strategic planning, drafting of written materials, design and production of different media (including online portals) as well as guidance and advice to members, either face-to-face or via telephone helplines.

4. 04

   Efficient ongoing scheme management

   We will set up OnePlace, our web-based collaboration software, enabling easy transfer and storage of scheme documentation including trustee meeting agendas, papers and minutes. The software can automatically produce meeting packs for you and can be used to project manage routine scheme exercises, such as production of annual reports and accounts.

5. 05

   Trustee secretariat and governance services

   We have a proven track record in providing trustee secretariat and governance services to trustees of UK pension plans. Our experienced scheme secretaries provide support, structure and procedural expertise so that all members of the trustee board are able to discharge their duties in an efficient and effective way. Our service is flexible and tailored to each client's needs: we can provide minutes only pensions manager support, through to fully outsourced pension secretariat services.