The programme includes a series of communications to make clear what our expectations are on those responsible for managing a scheme effectively. This includes the main things that need to be in place and which will support good decision-making. For example:
- clear roles and responsibilities and clear strategic objectives
- a skilled, engaged and diverse board led by an effective chair
- close relationships with employers, advisers and others involved in running the scheme
- sound structures and processes focused on outcomes
- a robust risk management framework focused on key risks
We are not creating new or higher standards of governance for those running schemes. Rather we are making clearer what we think good governance looks like, and what we will do if we don’t see these standards being met.
Governance, roles and strategy
Check governance, roles and strategy for your scheme
Check your governance, roles and strategy (PDF, 415kb, 3 pages)
See how you're doing with your basic duties, review who does what and make sure you have an effective business plan.
Training, skills and advisers
Make sure the trustee board as a whole has the skills, knowledge and understanding to run the pension scheme properly.
Make sure the people on your trustee board have the skills, knowledge and experience to run the scheme well. These skills should work as a whole for the board.
Check training, skills and advisers for your scheme
Check your training, skills and advisers (PDF, 410kb, 2 pages)
Review what training and skills you and the board need, and assess how well your advisers are performing
Risk and conflicts of interest
Make sure you have policies and procedures in place to identify, manage or avoid conflicts for trustees, employers, advisers and service providers.
Make sure you have effective board meetings and conduct timely decision-making.
Value for members
It’s essential to monitor and record the value the scheme is achieving so you can make informed decisions on behalf of your members.