Ensuring your pension scheme is well run
Beyond the duty of care to your people, good governance makes sound business sense. With minimum contributions now at 8%, more money than ever is being paid into the pension plans of your employees.
Ensuring these arrangements are valued by your people, contributing to corporate goals and supporting broader HR objectives should really be a core objective for your business. In our view, your company pension scheme should receive as much attention and consideration of the return achieved as any other business project or investment.
Good governance is about good member outcomes
Having a strong governance structure in place reassures you and your members that your scheme is well run. A good governance process will also identify and manage any risks to members’ retirement savings, preventing any future problems.
One of the key focus points should be helping your people make informed choices and behavioural changes. These can make big differences to peoples’ outcomes at retirement and this is a sometimes overlooked area where a sound governance framework can help.
Supporting your HR objectives
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Is your pension delivering good outcomes for your members?
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Environmental, Social and Corporate Governance (ESG)
Environmental, Social and Corporate Governance (ESG) factors are starting to play a more active role in how your pension members choose to invest their money. It’s also important for your business to understand what action your pension provider is taking in relation to your scheme’s default investment strategy.