Trustee training is becoming increasingly sophisticated and tailored to the specific needs of a given set of trustees. The Pensions Regulator sees training as an invaluable part of a scheme’s risk management framework. At bac we have a leading-edge approach to training that can be delivered using a variety of mediums. Our focus is on making training enjoyable and highly interactive.
We recently ran a day-long training session for the trustees of a FTSE 100 scheme which involved working through two different scenarios:
- a takeover of the sponsor by a private equity firm
- an approach from the sponsor to undertake a large buy-in.
The first scenario led to some detailed discussions on real and perceived conflicts, as well as a realisation that the covenant monitoring in place was not as strong as it should be.
Arising out of the second scenario, it was agreed that a sub-committee should be formed to look in detail at the quality of the scheme’s data and administration practices – just to ensure the scheme would be ready if that buy-in discussion ever did happen!
You might also
be interested in...
We have a wide range of options to support your DC training needs, including online modules and face-to-face workshops
YourView is our online training and evaluation tool. It can help evaluate the strength of your governance, decision-making, risk framework and advisers
In the news this week, the ACA calls for AE contribution increases plus tax and pension simplification, MaPS launches its 10 year financial wellbeing strategy and the AA consults on stopping future DB accrual.
2019 marked 50 years since Neil Armstrong walked on the moon and this was obviously on the Queen’s mind in her Christmas message as she talked about a bumpy year but one with small steps of progress as well. In terms of pensions, it also felt like a year of small steps and occasional bumps. In this quarter’s Arena, we take a positive look back at 2019, as well as looking forward to some expected pension developments over 2020.
Despite the very different circumstances facing individual companies, bac‘s autumn 2019 survey reveals a surprisingly consistent picture of the actions which companies are finding most attractive to manage their DB and DC pension arrangements.
As DB liabilities have become legacy issues to be managed, governance has become the umbrella term for a broad range of risk management tools. In this publication, we look at the DB governance solutions we have helped our clients to implement.
As pension trustees and sponsors get serious about good governance, a key question is whether technology can play a meaningful role or is simply an expensive addition that looks good but adds little value?