Pensions Governance: On a Page

Your pension administrator plays a critical role in managing the day-to-day operation of your pension arrangement, as well as being the first port of call for your members when they wish to access their benefits.

Striking the right balance between achieving good pension governance and containing pension scheme costs by ensuring your administrator is delivering value for money is just one of the many demands faced by pension trustees.

We can support you with administration oversight and management by:

• Monitoring the ongoing ‘Business As Usual’ activity and  set expectations for a good quality service (reducing trustee time spent understanding it)
• providing real-time reporting through the maintenance of activity logs (including RAG status of projects / member case progress)
• monitoring agreed key performance indicators (KPIs) providing visibility on a range of quantitative and qualitative measures of performance (not just SLAs)
• chairing operational working group meetings with a standard agenda, which requires the administrator to present performance reports and update the trustee on issues
• overseeing and managing the administration relationship
• promoting close collaboration between the administrator and the trustees. This generates  trust, accountability, transparency and a better understanding of administration risk controls and process constraints 

We provide member case support by:

• Reducing the amount of time that trustees spend on cases, by  following up on missing or verifying unclear information
• educating providers and setting expectations as to  how cases should be packaged up for trustee decisions, for example, have all matters been considered, is all relevant documentation available, has the matter been accurately summarised stating the decision required?
• investigating both sides of a complaint

We have developed an approach to provider selection exercises that ensures a client’s needs are identified and then tailored alongside our best practices to help deliver a desirable project-based outcome.

We are experienced in working with administrators to ensure the ‘engine’ of the pension scheme is working well. This is key to members receiving a high standard of service. We currently work with a number of our clients to provide admin oversight and have a tried and tested approach to making improvements.

Pegasus can support you in identifying which route is most suitable for your scheme, whether it’s a buy-in, consolidation or adopting a long term self-sufficient approach, and delivering your desired outcome. View more about our endgame solutions here. 

From our broad spectrum of expertise we can provide ad-hoc support to help fill an interim resource requirement or bolster your existing team.

Our approach to supporting clients in reporting against the Code is to create a holistic, fit for purpose governance structure that focuses on the bigger picture for trustees - whilst taking comfort that we have supported them with the detailed assessments needed. 

GMP projects are complex. We can provide the missing link between the scheme administrator and advisors to ensure all parties are working effectively.

We are experienced in working with administrators to ensure the ‘engine’ of the pension scheme is working well. This is key to members receiving a high standard of service. We currently work with a number of our clients to provide admin oversight and have a tried and tested approach to making improvements.

We can provide experienced support to ensure your scheme event has the right level of independent oversight, scrutiny and ultimately gets delivered on time and to budget.

We provide secretarial services as a standalone service, or as part of our Corporate Sole Trustee framework. As scheme secretary, we act as your executive arm, working closely with the Chair ensuring dependable and effective governance and delivery of pensions strategy.