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Improving/ Transforming
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Reporting and governance
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'Health-check'/ ops review'
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Musings | 16 Sep 2024
Sponsored cycle ride
This week, Ian is cycling 360 km across Sardinia for a good cause. This sponsored ride supports the Jason Robinson Foundation, which helps children and young people break through some of the barriers they face. As the final preparations are underway, if you'd like to support this meaningful cause, your donation would be greatly appreciated – thank you!
Musings | 12 Sep 2024
The changing role of the in-house pensions manager
The role of the pensions manager has changed dramatically over the past 18 years. What was once a role centred on stability has grown into one that demands strategic leadership, covering regulatory changes, governance challenges, and corporate objectives. As legislative and economic shifts continue, Kate’s article provides a fascinating overview of how pensions managers have adapted and will continue to do so.
Musings | 12 Sep 2024
Pension Industry Changes Over the Last 18 Years: A Comedy of Errors and Triumphs
With a light-hearted look at the pension industry’s significant milestones since 2006, Barry blends humour with history. From the introduction of auto-enrolment to pension freedoms and the impact of the financial crisis, we reflect on the pivotal moments that shaped the pensions landscape of today. It’s a rollercoaster of errors, triumphs, and transformation - and the journey is far from over!
Musings | 12 Sep 2024
18 years of Independence
In this article, Ian celebrates Muse Advisory's 18th birthday and reflects on our growth since 2006. Independence has been at the core of our work, allowing us to deliver unbiased advice and focus on the best outcomes for clients and pension schemes. We also take a "helicopter view" of the industry changes over the years, noting that the clients we have advised have been responsible for over 10 million members and £800bn in assets
Musings | 26 Jun 2024
Why independence matters
Independence is defined as “the complete freedom from control or influence by another party”. But why is this concept so crucial for pension schemes? Check out our article to find out.
Musings | 26 Jun 2024
The General Code, the ESOG, the ORA and the search for truth
Even though the General Code is here, many pension schemes are yet to undertake their Effective System of Governance (ESOG) gap analysis or review their risk management arrangements. Check out our article to find out how we could help.
Musings | 26 Jun 2024
Don’t forget your members on your journey to buyout
Now this may seem like a pointless headline – after all, the member is what pension schemes are about, but when a transaction comes into sight and everyone is speeding to get it over the line, things can be rushed, and in the melee, some things can be overlooked, including the impact on members.
Musings | 10 May 2024
Reflecting on the regulatory pressures facing the LGPS today
Ian McQuade recently wrote in Pensions Age reflecting on the regulatory pressures facing the LGPS today. Check out what he had to say.
Musings | 3 Apr 2024
5 key takeaways from our ORA webinar
If you were able to join our webinar, we hope you found some of the insights and experience shared by DHL and AIB helpful. If you weren’t able to make it, here are 5 key takeaways to consider in relation to the ORA
Musings | 19 Mar 2024
How often should you review your advisers for good governance?
Trustees have a lot of responsibility. Having advisers and suppliers is part and parcel of the role, but how often should those advisers and suppliers be reviewed?
Musings | 14 Mar 2024
Five top tips for building a partnership with your administrator
Good administration is like a team sport - trustees and administrators working together to achieve a stronger outcome. Here's our top tips for building a partnership with your administrator.
Musings | 12 Mar 2024
Working in partnership with your administrator
The best way to get results with your admin and data is to work in partnership with your administration... you're on the same side and both want to make sure the right benefit goes to the right member at the right time.
Musings | 7 Mar 2024
Unforeseen consequences of delaying GMP rectification
It's impossible to have a focus on admin and not mention GMPs! This part of our admin in focus series shines a spotlight on the risks of delaying your GMP rectification...and yes, we know without a legislative deadline many schemes still have to progress beyond the reconciliation part of their GMP project.
Musings | 6 Mar 2024
Board effectiveness - What is it and why is it important?
What do we mean when we talk about Board effectiveness? Check out this article which explores how you can go about assessing and improving board effectiveness
Musings | 6 Mar 2024
How does risk management impact strategy (and why you should care!)
All trustees and their schemes face external and internal factors and influences that make it uncertain whether they will achieve their objectives or continue to operate in the way they want. We have set out 8 areas where risk management may impact your strategy.
Musings | 6 Mar 2024
How small schemes can prepare for TPR’s new General code of practice (the Code)
Complying with the Code sounds like an impossible task when you're a small scheme, doesn't it? Check out our guide setting out how small schemes can prepare for TPR's new General code of practice
Musings | 5 Mar 2024
Case Study: Data remediation - Is it worth the wait?
Want to understand more about what we do and how we do it - especially in the administration space? This case study takes a look at how we helped a scheme with data problems and capacity challenges to be able to rectify those problems in a timeframe the Trustees were comfortable with.
Musings | 29 Feb 2024
Guide to managing scheme data
Data is the foundation of all pension scheme administration - from the basic BAU to strategic projects. Our data guide is bursting with info and insights for you to use with your scheme.
Musings | 27 Feb 2024
How do you know if your data is as good as you think it is?
Good administration and good data go together like gin and tonic. But how do you know if your data is good or bad? If you can answer yes to the six questions in part three of our admin in focus series then your data is likely to be in good shape.
Musings | 22 Feb 2024
What does a good member experience look like?
Good administration is the key to a good member experience. And that goes beyond simply paying the right pension at the right time to the right person. So, what does a good member experience look like? Part two of our admin in focus dives into good member experience...
Musings | 20 Feb 2024
The eight things we expect from our administrator
When you only have one administrator how do you know if the service you are receiving is good or bad? Part one of our admin in focus gives 8 areas to look at, examples of best practice and where Schemes' might want to look a little closer.
Musings | 7 Feb 2024
Muse Advisory Press Release
Muse Advisory is delighted to announce the appointment of Adrian Cooper as Head of Market Engagement.
Musings | 23 Jan 2024
Muse Advisory Press Release
Muse Advisory is delighted to announce the appointment of Rosanne Corbett and Jo Fellowes as Directors of the firm, and Kate Maloney as Client Director.
Musings | 17 Jan 2024
What’s next? Now the General Code is here...
The Pensions Regulator’s (TPR) final General code of practice (the Code) is now published and comes into force from 27 March 2024. In this article we look at next steps now the Code is here and the approach you might take to comply.
Musings | 1 Jan 2024
Industry Speakers
If you’d like a speaker for an event or panel member, please contact one of the team listed here.
Musings | 15 Dec 2023
Thoughts on our first Own Risk Assessments
Having successfully completed two ORAs, one in Ireland and one here in the UK, we thought we’d share 3 overarching takeaways from the process.
Musings | 11 Dec 2023
Admin & member experience focus areas for journey planning
Eight Trustee Chairs came together to exchange views, ideas, concerns and learnings on ensuring the focus on administration and member experience remains front of mind as schemes plan for their journeys. It was an incredibly insightful and lively discussion which explored so many areas of the industry. We’ve put together a synopsis of the key themes emerging from our discussion.
Musings | 11 Dec 2023
5 benefits of getting to grips with good governance
Governance isn’t just for trustee boards – it’s the very essence of teamwork, leadership and effectiveness. But when we think of focusing on pension scheme governance, all too often it’s associated with fixing things that have already gone awry. It shouldn’t be like that. Governance is the cornerstone of effectiveness, good decision making and achieving objectives and it is the foundation of delivering good member outcomes
Musings | 11 Dec 2023
8 things to think about when setting your endgame objective
Pension risk transfer, endgame, journey plan – a project by any other name would be just as complex! The LDI ‘incident’ left many schemes in a very different funding position, but funding alone isn’t enough to accelerate an insurance transaction. It’s a broad and complicated project that will need trustees, pension scheme managers, advisers, insurers and administrators to work together. Here’s some things to think about when setting your endgame objective.
Musings | 6 Oct 2023
Thoughts on the Trustee Skills Consultation
The Pensions Regulator plans to overhaul the trustee toolkit and the accreditation process for professional trustees in a bid to ensure consistent high levels of scheme governance. As part of the Mansion House Reforms in July, The Department for Work and Pensions and HM Treasury issued a call for evidence on improving the skills, capability and culture of Trustee Boards. Here’s some of the key points our response covered
Musings | 6 Oct 2023
Cyber risk: It’s not ‘if’ it’s ‘when’
Cyber-attacks have got close to home recently. While attacks were happening to the likes of the NHS and easyJet, the pensions industry had seemed to escape to a large extent. The events at Capita and with Progress Software’s MOVEit file transfer app, changed that. So, what lessons can we learn?
Musings | 6 Oct 2023
LDI: One Year On
It feels like time has passed quickly since the gilt market movements a year ago. It has been a bumpy ride for some, a fortunate set of events for others and something in between for the rest. A scheme’s governance standards were key to how well they fared in this period of investment volatility.
Musings | 3 Jul 2023
Blinded by the lights: How Trustee Boards keep pension schemes efficient and secure is changing, but some things never change
As cyber steals the headlines on pensions admin, how can trustee boards balance the urgent issues with the important to make sure they’re getting the best possible value and service from their third party administrator? See our thoughts on key areas for consideration to help maintain focus.
Musings | 3 Jul 2023
Are you planning for your endgame? If so, you might want to put your scheme governance under the microscope…
Almost every day brings another announcement in the pensions press where a pension scheme has insured some, or all, of its benefits. There are quotes about the effort that has gone into securing the deal, along with a long list of advisers involved in making it happen. Whilst it’s not talked about in the laudatory and congratulatory press releases, governance is key to making sure that a pension scheme is successful in achieving its endgame.
Musings | 3 Jul 2023
Why do trustee boards use outsourced pension management?
Has the role of pensions managers become a last man standing role? With DB schemes heading into decline, but regulatory requirements increasing, how can trustee boards deliver robust and compliant pensions management? Here are some of the key benefits of having outsourced pensions management.
Musings | 2 Feb 2023
Getting ready for the Code - Continuity and contingency planning
The eighth article in our Muse series Getting ready for the Code, is a practical look at continuity and contingency planning, how to plan for and respond when things go wrong.
Musings | 15 Aug 2022
Getting Ready for the Code - Risk management function and internal audit
The seventh article in our Muse series Getting ready for the Code, is a brief look at how the risk management function can add value to your scheme, and the potential value of independent sources of assurance on controls, such as internal audit.
Musings | 22 Jun 2022
Getting Ready for the Code - Reviewing the ESOG
The sixth article in our Muse series Getting ready for the Code, is a short practical look at how to get the most out of your ESOG review.
Musings | 24 May 2022
Getting Ready for the Code - Effective Reporting
The fifth article in our Muse series Getting ready for the Code, is a practical look at how to get the most out of your risk and control reporting.
Musings | 15 May 2022
Pensions Dashboards; how to make best use of the reset
Whilst the Pension Dashboard Programme is being reset, there is a great opportunity to get ahead. All schemes will have to connect, and if you delay now, you will find yourself in a queue, rushing to complete the work as the final deadline approaches. That will cost more and increase the chances of upsetting TPR. In this article, we have set out some ideas for making the most of the time afforded by the reset.
Musings | 21 Apr 2022
Getting Ready for the Code - Sources of assurance
The fourth article in our Muse series Getting ready for the Code, is a a practical look at your sources of assurance.
Musings | 8 Mar 2022
Getting ready for the Code - Understanding your controls and their effectiveness
The third article in our Muse series Getting ready for the Code, is a practical look at understanding your controls and their effectiveness.
Musings | 2 Mar 2022
Getting value from the TPR Single Code
With the TPR Single Modular Code expected to come into force this Autumn, check out how we can help you get value from your work on the ESOG and ORA.
Musings | 1 Feb 2022
Getting ready for the Code - Understanding your risks
The second article in our Muse series Getting ready for the Code, is a practical look at how to identify and understand your risks.
Case studies | 21 Jan 2022
MNT Selection
We were appointed to help our client develop a pre-selection process for a single MNT vacancy on their trustee board. The candidates were always going to go to ballot, but the trustee wanted to be able to exercise some control over the skills and aptitudes of the candidates.
Case studies | 6 Jan 2022
Transform or Transition?
'Administration is tricky. Errors occur. Mistakes happen. That is the nature of the beast.' This is a message that some have heard from their administrators over the years. But, what if it's not just day-to-day errors? Are there more fundamental issues? Perhaps the transition to your administrator was poor, your data may be unreliable or errors have gone undetected and have compounded.
Musings | 5 Jan 2022
Who is guarding the hen house?
“Well-run schemes are those that have access to a wide range of perspectives, knowledge and skills, where everyone has equal opportunity to contribute and challenge from different perspectives.” - David Fairs, Executive Director of Regulatory Policy, Analysis and Advice at The Pensions Regulator, wrote those words in his latest blog posted just before Christmas. We whole-heartedly agree with this statement and the theme of his blog, though it is interesting to contrast this with changes happening across the pensions industry and consider which are for good, and which may actually lead to long term harm.
Musings | 17 Dec 2021
Getting ready for the Code - Where to start
Welcome to the Muse series Getting ready for the Code, where we are sharing practical tips and tools. The first article in the series is a practical look at gap analysis, to help assess how ready you are for the Code and ORA. After initial Trustee training, this is where many are starting their Code and ORA work.
Musings | 17 Dec 2021
Getting ready for the Code - Practical tips and tools
Welcome to the Muse series Getting ready for the Code, where we'll be sharing our practical tips and tools. This follows our round tables in the Autumn with trustees and pension leads responsible for a wide variety of schemes, after some ORA readiness benchmarking that attendees did in advance.
Case studies | 13 Dec 2021
Home and Dry?
With a destination in sight many trustee boards are trying to ensure that they get there as quickly and safely as possible. So what should you do if your radar screen goes blank? Your Pensions Manager wants to retire and you need to replace the person responsible for the day to day management and direction of the scheme.
Case studies | 13 Dec 2021
Consolidating Advisers
Where a company has a number of legacy pension schemes as a result of acquisition, it is not unusual to find them administered by different parties. In this example, our client had many legacy schemes (all closed) and five different administration providers.
Case studies | 13 Dec 2021
Merging Trustee Boards
Each trustee board develops a particular way of working and an individual culture. They generate different ideas; have different resources and knowledge. In short, each is unique. So, imagine trying the challenge of combining two very different trustee boards.
Case studies | 13 Dec 2021
The Decision to Outsource
A decision to outsource should not be taken lightly. However, upon reflection, it often appears to have been clearly signposted. There are a number of drivers that put outsourcing on the table, but it usually requires that special catalyst; that key ingredient.
Case studies | 13 Dec 2021
Governance: Think cycles, not boxes
Governance is becoming better understood, and more clearly defined. It encompasses everything about governing the scheme. But with a busy agenda to manage, trustees can fall into the trap of overlooking the importance of maintaining effective governance review processes. Some may find it a challenge to prevent governance review processes becoming a periodic box-ticking exercise. Trustees must keep their minds open to what is changing around them and for the need to improve governance.
Case studies | 13 Dec 2021
Resourcing the Pensions Department
Our client asked us to conduct a benchmarking exercise investigating in-house company pension teams. During a series of interviews, 10 companies shared their current resourcing structures, activities, challenges and drivers.
Case studies | 13 Dec 2021
Programme Management: Benefits
Have you ever found yourself in the position of facing a forced change? How do you manage a complex project with tight deadlines at short notice? Well, our client needed to select a new TPA within a limited time, which was beyond their control. They not only had to complete this change, but manage a large data and pension over/ underpayments rectification project at the same time and across both incumbent and successor TPAs.
Case studies | 13 Dec 2021
Assessing Trustee Effectiveness
Self-assessment is reliant on objectivity; an ability to detach yourself from the daily rigours of trusteeship, to take an impartial look at the way you work, to be open-minded to ideas and challenge the established procedures, and to retain neutrality against criticism.
Case studies | 13 Dec 2021
Trustee Resourcing
We often work with trustee boards who, for various reasons, have found it necessary to assume a more operational role: more like an executive management team than the non-executive role intended for trustees.
Case studies | 13 Dec 2021
What is the right DC scheme for you?
The sponsor had put in place a contract based scheme early in the 2000s, and had changed provider in 2007. As the scheme had grown and become the main scheme for employees, and the governance committee had taken a more active role in the scheme, it was becoming clear that the solution was not matching the needs of the sponsor nor the scheme members.
Case studies | 13 Dec 2021
Moving to a Master Trust
The company had recently undertaken a strategic review of its DC arrangements and concluded that there were efficiencies to be made in the DC running costs. A Master Trust might provide the most cost efficient means of providing the DC benefits, but as their DC adviser also runs a Master Trust, the company recognised that the adviser would be conflicted.
Case studies | 13 Dec 2021
Approaching Risk Management
Risk management had become “stale” and needed refreshing or so thought the Trustees’ risk committee at least. Consequently, Muse were commissioned to conduct an independent review of the Trustee Board’s risk management framework with a view to improving effectiveness.
Case studies | 13 Dec 2021
Transforming Administration
Our client was experiencing issues with their administration service. They were on a legacy system that wasn’t well integrated, and were being serviced from an office that was experiencing some resource challenges. The provider was distracted and the combination of these factors led the service quality to fall. The service had become so poor, and the response so inadequate that the client was considering other options in the market.
Case studies | 13 Dec 2021
Selecting an Actuary
Our client had two schemes, each with a different actuary. This wasn’t a problem, but it was time for a review and they wanted to consider the benefits and downsides of sharing an actuary across the two schemes.
Case studies | 13 Dec 2021
Approaching Renegotiation
Although it’s not a document anyone wants to be constantly referring to, the contract between Trustees and their administrator is crucial in governing the relationship. It is important that as a renewal approaches it isn’t just rolled over. It needs to be looked at afresh to make sure it still reflects what the Trustees need from the service, and the services actually being delivered.
Case studies | 13 Dec 2021
Making the Selection
We were appointed to help our client develop a pre-selection process for a single MNT vacancy on their trustee board. The candidates were always going to go to ballot, but the trustee wanted to be able to exercise some control over the skills and aptitudes of the candidates.
Case studies | 13 Dec 2021
Governing Investments
A company-appointed trustee felt that the trustees were rather too passive when it came to the investment strategy. This individual trustee felt the trustee board wasn’t considering all their options and weren’t making the best use of their investment adviser. However, being a company-appointed trustee meant that there was a risk of perceived conflict and he recognised that can be just as damaging as the real thing.
Case studies | 13 Dec 2021
Outsourcing Investments
Our client had an in-house investment team including provision of investment advice and some direct investment management and was on a journey towards a greater level of outsourcing. However, they didn’t know how they should approach the range of options for outsourcing, while pursuing their objective to further derisk the scheme.
Case studies | 13 Dec 2021
Asking the Right Questions
Our client was reviewing their DC options, something that we increasingly see, and had decided to look at the master trust market. They wanted to reduce the costs and governance burden for the company, but ensure that members were getting good value for money. It was also important that the members could access the full flexibilities.
Case studies | 13 Dec 2021
Broadening Horizons
Our client had decided to conduct a review of their scheme governance and trustee effectiveness. However, the process they went through with a competitor of ours was challenging, dispiriting and produced a quite damning verdict. Nonetheless, the trustee had worked through the recommendations and were now ready to re-assess where they were. We were appointed because we were able to demonstrate an awareness of the sensitivities inherent in any such exercise: the need to balance competing interests, understand different views and personalities, and to create an open, supportive and collaborative exchange of opinions and views.
Case studies | 13 Dec 2021
Reviewing Full Services
Our client had been with their full services provider for over 15 years and enjoyed, on the whole, a good relationship. However, more recently some strains had started to appear and frustrations were building. That is why we were appointed: to bring the Trustee up to speed with the latest offerings and find a provider that would bring fresh views and work well with the trustee.
Case studies | 13 Dec 2021
DC Processes and SLAs
Our client was implementing a new DC platform provider. The existing DB administration remained in-house. The new provider had proposed their standard SLAs, and the client wanted to ensure they were fit for purpose and in-line with good practice. We were appointed to use our experience and expertise to assess the SLAs and DC processes.
Case studies | 13 Dec 2021
The Importance of Oversight
Administration is complex. It may seem simple to the member on the receiving end, and to the clients that hold it at arm’s length. But think about the raft of legislation, data issues, legacy rules, mergers, acquisitions and all the other things that get thrown into the pot for good measure. It’s easy to see how mistakes can creep in and errors be made regardless of how robust the systems, risk management and quality controls are that wrap around it.
Case studies | 13 Dec 2021
Comfort and Reassurance
Our client was having an especially busy period with their administration and were confronting a lot of strategic and implementation issues. They recognised the need for someone independent, with an outside and fresh perspective, that could challenge their administrator, in house executive team and consultants, but just as importantly could support the Committee in discussing the decisions and challenges they were facing.
Case studies | 13 Dec 2021
Achieving Balance
We were appointed to help our client review the performance management and develop a framework that brings more stability and balance to the relationship with their administrator.
Case studies | 13 Dec 2021
Choosing your Covenant Adviser
Our client’s covenant provider had just been appointed to provide advice to the sponsoring employer. The Trustee were not happy with the potential conflicts in this and decided it was time to change.
Case studies | 13 Dec 2021
Getting from A to B: Investment Governance
Recently we supported two clients to change their investment advisory arrangements. Both shared a similar goal in wanting to discharge their fiduciary responsibilities as effectively as they could, but both had different ideas about how to achieve this.
Case studies | 13 Dec 2021
Trustee executive selection and board effectiveness review
This was a wide-ranging executive support and Trustee governance project for a complex multi-employer scheme, where the Trustee and the board had experienced challenging situations in recent years. It was time to move forward. The client formed a Working Group to liaise with us.
Musings | 20 Sep 2021
Strong foundations are not enough
There is a lot of time spent in making sure transitions are effectively and successfully delivered, and rightly so. However, transition is only one part of the story; it is only the beginning.
Musings | 4 Aug 2021
How do schemes get the best from their administrator?
The world of pensions administration has been through a rollercoaster over the past 18 months, but how do you ensure the performance of your administrator continues to meet the high standards you expect. We undertook some research into how Trustees and Sponsors approach administration oversight and have shared some key findings here.
Musings | 16 Jul 2021
How is TPR’s draft Code of Practice landing with trustees?
We’ve been discussing the draft Code with clients and other Trustee contacts whilst we framed our response to TPR’s consultation. Here’s a sense of what trustees, pensions leads and people with risk roles we’ve spoken to have been making of it so far.
Musings | 5 Jul 2021
Competence and Integrity
Competence and integrity are two capacities and values which are as vital as they are difficult to define. Here we try and define each, establishing why they are both equally important skills to have across a trustee boards.
Musings | 4 Jun 2021
The draft TPR Code through the looking glass
At over 150 pages, what can trustees make of the TPR draft Code of Practice? We’ve been looking at it in detail for our consultation response, but rather than re-writing War and Peace we thought we’d share two thoughts from our own response.
Musings | 18 May 2021
New risk management requirements: are you ready?
IORP II requires schemes to meet new risk management requirements that are now in TPR's new Code of Practice.
Musings | 5 May 2021
TES-ting times
We are now moving optimistically into the brighter, warmer weather of the spring and summer, the lockdown slowly lifting. While we all look forward to enjoying the lighter evenings and the re-opening of restaurants and pubs, in the pensions arena there is still a lot of work to be done.
Musings | 31 Mar 2021
People risks and why managing them better pays dividends
The hydra-headed impact of Covid-19 on pension schemes has placed strains on the people involved in running them. Now ‘the urgent’ work has been dealt with and more time is being spent again on ‘the important’. Which brings us onto people risks, and with the lockdown hopefully easing, making sure we come out stronger.
Musings | 25 Mar 2021
As if by magic the Easter Bunny brings a new TPR Code!
TPR has published the single Code of Practice for consultation which is open until 26 May. Recharged with chocolate we’ll be reading the 149 pages in more detail and having a go at TPR’s consultation questions after Easter and will update you as needed on what to look out for and practical pointers.
Case studies | 4 Nov 2020
Updating investment governance approaches
The feedback we received showed that we were appointed partly because the client thought we had fully listened to their issues and to what they were seeking to achieve and demonstrated that in our suggested scope and approach.
Musings | 3 Sep 2020
De-risking administration
Take a minute to check out our brief thoughts on how to manage administration risk in light of the Covid-19 pandemic.
Musings | 5 Aug 2020
Trustee ways of working in a Covid-19 world
As all of us continue to adapt and improve how we work remotely it helps to share experiences and tips. Here are some recent perspectives from the many trustees and pensions teams we regularly talk to.
Musings | 3 Aug 2020
Is your board diverse and inclusive - what helps?
The term ‘Diversity and Inclusion’ is often thrown around but what does it actually mean? Of course, it can mean different things to everyone but check out what it means to us!
Musings | 16 Jul 2020
Don’t let the urgent crowd out the important - Key person risk and succession planning
Succession planning is sometimes an uncomfortable subject, but the Coronavirus crisis acts as wake up call for pension schemes to look at plans for an organised succession for key senior posts and to develop emergency backup plans on the trustee board, in the executive, and with key suppliers.
Musings | 2 Jul 2020
Don’t let the urgent crowd out the important - Trustee decision-making and governance post lockdown
The Covid-19 pandemic has had a huge effect on all industries, literally all. Pensions trustees have had to adapt to this new world with very little warning. So where do we go from here and what governance lessons can be learned?
Musings | 2 Jun 2020
Don’t let the urgent crowd out the important - How do you review and select advisers remotely?
The immediate response to the outbreak of Covid-19 shifted priorities and a lot of the important projects suddenly became less so and were put on hold. With social distancing and home-working likely for the foreseeable future, those important projects are now due for reconsideration.
Musings | 18 May 2020
Don’t let the urgent crowd out the important - Are you still making good decisions?
Covid-19 has thrown up a lot of issues and a lot of urgent decisions have been made. But other things will have been forgotten. Is it now time to start thinking about the important as much as the urgent?
Musings | 7 May 2020
Don’t let the urgent crowd out the important - Administration
There has been a lot of material about the urgent administration issues that Covid-19 has thrown up, for example pensioner payroll, cashflow and death claims. Is It now time to start thinking about the important as much as the urgent?
Musings | 16 Mar 2020
Covid-19 – scheme governance risks to tie down
In light of how fast Covid-19 is moving, here are some practical points for pension teams and trustees to consider in their planning, as business will be disrupted.
Musings | 14 Feb 2020
Levelling up – is it doable?
Following the government’s HS2 announcement you could say levelling up is also what TPR is doing on trusteeship and governance. TPR wants to see proof of good and proportionate governance, in a landscape with fewer schemes. Trustees will have to show they’re up to the job. They may need to exit if they can’t get up to speed.
Musings | 8 Jan 2020
TPR Guidance on Tendering for Fiduciary Management Services
The Pensions Regulator (TPR) has released its long-awaited guidance setting out approaches to comply with trustees’ duties to competitively tender fiduciary management appointments. We have collated our views on the guidance and shared our thoughts here.
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