Kirsty Pake sets out practical steps for trustees on the path to good governance for PMI Pensions Aspects
Associate, Kirsty Pake, writing in PMI Pensions Aspects, explains how to get a trustee board on the right track to good governance.
Raising pension scheme governance standards is as hot a topic as ever. With recent developments in the area including the Pension Regulator’s (TPR) 21st Century Trustee programme, IORP II and new standards for professional trustees, there is a lot for trustees to get to grips with. TPR states that good governance is “the bedrock of a well run pension scheme”, and vital for achieving good member outcomes. Whilst we can all agree that effective trusteeship and governance are fundamental, the real challenge for trustees is working out what good governance looks like for them. TPR acknowledges that there is no single solution to delivering robust governance, s what is appropriate will depend upon the circumstances of the scheme and the trustees.
In this article Pake sets out steps for trustees to take on the path to good governance.