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.
We will add content below over the coming months.