On-going reliable input, advice and guidance.
Accountability is Key
The face of the pension world is continually changing. For many businesses juggling hectic workloads, this presents constant and time consuming challenges.
However, there is no escaping the fact that regular reviews of your workplace pension scheme and keeping abreast of new options as they become available is imperative. Not only may it save you time and money in the long run, but it provides reassurance that you are still embracing a good quality, sustainable and cost-effective scheme.
About Pensions Governance
In April 2015, game-changing legislation was introduced. It stipulated that if your company is operating a workplace pension scheme (which includes most contract based schemes) you are required to establish your own Independent Governance Committee (IGC). Primarily this is a safeguarding initiative to ensure that your scheme is maximising performance and delivering good value for members.
Since then, many employers have set up pension scheme governance committees to assist in the management of their scheme (which may have additional advantages of motivating employees to join and engage).
If your business is a small or medium enterprise (SME) the prospect of having your own governance committee may appear to be both an impractical and uneconomical proposition.
But, working with us with the weight of our professional governance service behind you, is a very sound choice.