DB governance

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!

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8 November 2019

In the news this week, the Regulator confirms there are 37 authorised master trusts, the DWP consults on simpler annual benefit statements for DC arrangements, the ACA urges tax simplification and university staff are set to strike again.

Pensions Arena October 2019

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.

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