Pensions governance and administration

With the demise of defined benefit pensions, the UK pensions landscape is at a ‘crossroads’ in its evolution. At this important point, there is a strong focus on balancing the benefits and risks of pension provision, with particular attention being paid to how effectively employers and trustees meet their responsibilities.

This can place considerable pressure on businesses and is an area that The Pensions Regulator monitors closely — you need to be confident that the decisions you make are the right ones for your business and your employees.

Our pensions governance service has been developed in line with The Pensions Regulator’s six principles of good scheme governance so that you can be confident your scheme is well managed and compliant.

We take the time to understand your membership profile, engaging with members and helping them to make informed decisions from recruitment to retirement.

Our approach means you’ll have access to senior staff from across our diverse business, including pensions and employee benefits experts, employment tax professionals and discretionary investment managers.

Every business has its own particular challenges, issues and objectives, and our service seeks to consider the needs of your workforce, including:

• Auto-enrolment: reviewing your current pension scheme or establishing a scheme for the first time and identifying any changes you need to make, to ensure compliance
• Re-enrolment: ensuring ongoing compliance with your regulatory responsibilities and governance objectives
• Administration: helping with individual member record keeping and monitoring contributions
• Employee communications: working with you to ensure good member outcomes
• Investment advice: providing scheme-specific investment advice to trustees and employers, and tailored investment advice to employees
• Evaluation: preparing insight reports that evaluate your current situation and make recommendations based on the specific needs of your business and employees
• Strategic advice: assisting in the design and management of your pension schemes in line with your broader business goals
• Analysis: producing meaningful analysis to ensure you meet your regulatory responsibilities and governance objectives
• Ongoing advice: providing updates on legislative changes and scheme-specific advice to employers and trustees

Our highly qualified team has more than 20 years’ experience developing robust pension scheme governance structures.

We are associates of both the Pensions Management Institute and the Chartered Insurance Institute, and members of the Personal Finance Society.

Our team is adept at running financial clinics for employees so that they can make informed decisions about their benefits package.

Please get in contact to find out more about how Evelyn Partners can help.