Pitmans Trustees Launches Governance Committee Training Initiative
25 July 2012 (PLANSPONSOREurope.com) - Independent trustee and governance services provider Pitmans Trustees Ltd (PTL) has launched a Governance Committee Training initiative for both newly formed and existing DC governance committees.
Kim Nash, Client Director at PTL, said: “DC pension scheme governance is coming under greater scrutiny as the Pensions Regulator increases its presence in this field. The approaching auto enrolment regime means this trend is only set to continue.
“Good governance is at the centre of providing a good outcome for members whether they are in a contract or trust based arrangement and governance committees are one way to ensure the governance requirements for these schemes are being met. They should cover everything from investment options, to member communications, administration standards and of course member outcome.
“Employers often bemoan the fact that the pension scheme is seemingly out their control, a Governance Committee will allow them to regain/ retain the control of their scheme while also providing a clear indication to the membership and the Pensions Regulator of their commitment to good governance.”