The Pensions Regulator requires employers to make sure that their pension schemes are set up correctly, monitored regularly and deliver good outcomes for the members. To assist employers, and to provide clarity, the Pensions Regulator has set out 6 principles (please click on the image for a full size version of the table):
Whilst your specific governance obligations will be dependent upon both the type of scheme you sponsor and the objectives you set for it, our experience shows that the best outcomes for employer and employee arise when the employer is committed to taking the issue of governance seriously.
How can Finch Employee Benefits help your business?
Our team has extensive experience of helping businesses to manage their pension scheme governance. We can help you relieve your governance burden by:
- Ensuring your scheme is adding value to the membership
- Attending and documenting an annual governance meeting
- Providing training to those responsible for the pension scheme
- Assisting you with the assessment of the default fund
- Monitoring the administrative performance of the scheme administrator
- Assisting with and providing member communications
For more information about our Governance service, please contact Employee Benefits Consultant, David Vose, on 07860 803875 or the Employee Benefits team on 0161 228 1466.