The Pensions Regulator’s new single Code of Practice, which is expected to be implemented later this year, will introduce new governance responsibilities for trustees of both DB and DC pension schemes. We welcome the overall aim of the Code and encourage trustees to embrace the new requirements proportionately and in a way that enhances how they operate.
We cast the spotlight on the new governance requirements being introduced by the Code and how trustees can prepare themselves for these changes. We strongly encourage Trustees to familiarise themselves with the draft Code and start reviewing their governance frameworks against the requirements.
- The key actions trustees should be taking to prepare for the Code
- An overview of the effective system of governance (“ESOG”) and Own risk assessment (“ORA”) requirements
- The new Functions introduced in the Code
- How LCP can help you meet these new requirements
How we can help
We help make governance simple and effective so that you can make decisions and act on opportunities quickly.
We support trustees to review their governance frameworks with the aim of improving effectiveness and decision making. Our governance professionals take a practical and cost-effective approach to ensure that trustees are supported in pension governance.
We help trustees achieve their strategic goals, with solution-led, appropriate advice.
We help clients identify, manage and monitor pensions risks in an integrated way.
Good risk management is a key characteristic of a well governed pension scheme. Our experts facilitate interactive and tailored risk management workshops which clearly identify key risks in the pension scheme and practical actions to mitigate against these risks.