We understand that governance can sometimes be a bit of a headache. Buck’s governance toolbox is a simple but effective solution to help you meet The Pensions Regulator’s governance expectations and deliver better outcomes for your scheme members. Are you confident that your current approach is fit for purpose?
Winner of Governance Adviser of the Year at the Pension and Investment Provider Awards 2020
In an increasingly robust regulatory environment, and with the impending requirement to produce an own risk assessment, pension scheme governance is an area all trustee boards must fully embrace. We’ve developed a suite of tools to help trustees tackle these challenges – not only benefiting plan members, but assisting trustees in focusing on key areas such as skills, experience, and behaviours, as well as diversity within their trustee boards. By doing so they improve the effectiveness and efficiency of the trustee board, ultimately leading to a better-run pension scheme.
Buck’s governance toolbox assesses trustee boards’ needs to best build an effective system of governance in a straightforward and uncomplicated way. We do this using a simple four-step process:
There’s a clear link between strong governance structures and achieving better member outcomes. Applying our governance toolbox to your scheme, you can:
Governance underpins everything that we do. Our consultants are passionate and enthusiastic, and understand that our clients need to be fully supported. Our depth of knowledge of the regulatory environment means our clients trust us to offer sensible, pragmatic solutions to their challenges.
To ensure trustees are fully engaged with the principles and benefits of good governance, we integrate real-life examples, using roleplay in a challenging and interactive way, to showcase the tangible benefits good governance can bring.
We don’t just tell our trustees they need to implement a new process – we explain why. How it will benefit them, how it will make trustee meetings more streamlined and efficient, how it will save both time and money, and how it will reduce risk.
We work in partnership with you to support you along your governance journey, offering cost-effective, straightforward solutions. It’s an approach that works, as evidenced by being awarded the title of Governance Adviser of the Year at the 2020 Pension and Investment Provider Awards.
Governance in action: Chemical manufacturer pension fund
Increasing regulatory requirements necessitated a fresh approach
Established a governance sub-committee and key areas for improvement: trustee board performance evaluation; risk register; strategic long-term objectives.
Trustee board now has clear, strategic aspirations which underpin every decision, plus a 12-month rolling training plan aligned to long-term objectives of the pension scheme.