26 years on and feeling proud
This Thursday I am retiring after 26 years of continuous service, starting in administration with Punter Southall, then transferring in 2014 to the trustee business which merged with 20-20 Trustees to become Vidett 2 years ago. I recently heard Heather Small’s ‘Proud’ on the radio, the song asks “What have you done today to make […]
Beyond members: elevating communication in pensions
Administrator performance reviews
It’s a trustee’s responsibility to ensure that their pension schemes are run as effectively as possible to help achieve the best outcomes for members. Download our case study to find out how we turned an uncertain situation into a positive outcome.
Careers in pensions: the old and new
When we started our careers in pensions in the 80s and 90s, the landscape was vastly different. Back then central Edinburgh and Glasgow were crammed with Scottish banks and insurance companies; so it was a bit of a no-brainer to start work in that sector. Although there has been huge consolidation in the financial services […]
The general code: creating proportional ESOGs and ORAs
As schemes make their way through building effective systems of governance (ESOGs) it’s important to remember that every scheme has its own view on proportionality. Not everything needs to be gold standard for every scheme; it’s about applying the requirements in practice. Additionally, almost no schemes need to create their whole ESOG from scratch as […]
Everything you need to know about the general code
The Pensions Regulator’s updated general code framework went live on 28 March 2024. To mark this landmark, we’ve put together a handy video guide, breaking down what you need to do and by when. Find out more on our webpage here.
The PLSA South East spring seminar: understanding the general code
Client directors Simon Lewis and Kevin Clark will be joining the Pensions and Lifetime Savings Association (PLSA) South East group for their spring seminar, where they’ll be casting a closer look at one of our industry’s hottest topics: the general code. During the 90m session, the group will explore the requirements following the long-awaited publication […]
DC pension oversight with a governance committee
Client directors, Claire Barnes and Caroline Eastwood recently combined forces in their article for Governance and Compliance Magazine. The piece looks at the importance of pension governance committees, and how they can help enhance member outcomes, with a real-life case study helping bring the theory to life. Reflecting on the piece, Caroline commented: “Having established […]
General code series #6 – reporting to The Pensions Regulator
The general code of practice was published by The Pensions Regulator (TPR) on 10 January 2024 and replaces 10 of the 15 current codes. With the arrival of the new code, governing bodies (trustees or managers) will need to understand the new practices for reporting to TPR, review existing processes and consider whether new policies […]
General code series #5 – will the general code improve member communications?
In short, no. But it might be a nudge in the right direction (for some pension trustee boards at least). Why do I say that? Well, the communications and disclosure section in the recently published General Code is not too different from that in the draft and there was very little that was actually new […]
General code series #4 – what are the administration requirements of the general code?
Pension administration has often been viewed as the ‘poor relation’ in the hierarchy of pension trustee relationships, but pension schemes exist to pay members their benefits in accordance with the scheme rules and a trustee’s key responsibility is to safeguard these benefits. So, perhaps it’s not surprising The Pensions Regulator (TPR) recognises pensions administration is […]
General code series #3 – the governing body: board structure and activities
The ‘governing body’, is a term introduced by the general code (the code) to add to an already broad landscape of roles and responsibilities! The code’s definition is as follows: ‘The governing body is responsible for running a scheme. Governing bodies may be trustees or managers of occupational pension schemes, or, in public service pension […]
General code series #2 – where to start?
As noted before, there’s plenty trustee boards can be doing now to begin the next stage of the pension governance evolution. There is time to get it right though, so the important thing is just to start! Pension trustees need to make sure any steps taken to comply with the code should benefit the pension […]
General code series #1 – the governance evolution
As a professional pension trustee I get to hear what a whole raft of scheme advisers are saying to trustee boards about The Pension Regulator’s (TPR) proposed new general code of practice and the related ‘effective system of governance’ (ESoG). At this time, it sounds like we’re dealing with a revolution. The problem is, regulatory […]
Navigating the pension maze: 10 predictions for 2024
As change ripples through the pensions sector, Gillian Graham shines a light on some of the key transformations companies, pension schemes, and trustees could expect in the coming year. With the landscape shifting rapidly, the value of professional trustees will become even more apparent. Appointing experienced professionals to guide your scheme through the uncertainties of […]
The road to general code
With most journeys, we usually have a clear idea of our destination, and how to get there. However, there are often challenges along the way. The road to the general code is no different. The general code of practice (the code), formerly known as the single code, has suffered many delays. Originally expected in spring […]
Cracking the code: don’t give up now!
The anticipation surrounding the general code of practice (the code), formerly known as the single code, has been met with delays and name changes, with its publication expected in spring 2023, which has not transpired. When the code is published it will be one of the largest changes in occupational pensions in decades and trustees […]