Pensions and Governance

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Pensions Governance in the spotlight

Helping schemes document and evidence compliance

  • What is an effective system of governance?
  • How can we help you achieve it?
  • And how can you demonstrate it?

Discover more below.

Good governance

Trustees or managers of occupational pension schemes must establish and operate an effective system of governance (“ESOG”), including internal controls. An ESOG requires policies, processes and procedures to be in place to ensure compliance with specific areas of the General Code.

The Pensions Regulator’s updated general Code of Practice (the Code) sets out its expectations and recommendations. The Code was published on 10 January 2024 and will come into force on 27 March 2024.

The governance challenge

Schemes’ existing governance arrangements should cover much of what is required, but documenting current procedures and policies to comply with the new Code and then keeping it all under review is likely to be a challenging piece of work for most schemes.

Introducing our Governance hub

Our new hub enables TLT and your scheme to tackle the governance challenge together. The three-stage online self-service solution allows you to ‘Assess’, ‘Comply’, and ‘Maintain’.

Assess

Run a gap analysis of your current compliance. We’ll give you suggested steps towards Code compliance.

Comply

Fill the gaps and bring things up to speed. We support your journey to compliance, getting your documentation up to scratch, and prioritising.

Maintain

Keep your governance up to date. We’ll keep things ticking over for you, with the Governance hub acting as a document vault, a useful record of compliance, and a review-date reminder service.

How we can help

See how we can provide our expertise and technology.

A policies and procedures checklist

Detail on the requested content, as set out by the Code and underlying legislation

Preparation and/or review of policies

Advice on keeping your governance proportionate for your scheme

A timeline for the review of the ESOG and its elements

The Pensions Governance hub is fully audited and accredited to meet information security standards. The hub is ISO27001 certified, which ensures the controls and processes are in place to protect your data.

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