As PLSA members know, good governance is the foundation of success. That’s true for people running pension schemes and for the Association that represents them.
The Board makes sure that the voice of pensions and lifetime savings in the UK has a clear strategy and the necessary resources to fulfil it. It reviews our financial performance and the effectiveness of our lobbying, events, training and membership products and services.
The Board delegates decisions on pensions policy to our Councils, the main policy-making bodies through which the PLSA develops and agrees policies on behalf of our 1,300 members. Councils are where members can help influence policy on a wide range of pensions and related issues and contribute to the PLSA’s policy positions.
The Defined Benefit Council is responsible for the Association's DB policy-making and the Defined Contribution Council for the Association's DC policy-making. We also have a Master Trust Committee, which operates at a level equivalent to Councils.
OUR GOVERNANCE STRUCTURE IS CHANGING IN 2018
This year we’re making two big changes to our governance:
- Creating a new Policy Board and associated selection process to provide strategic oversight of our policy and advocacy work.
- Changing the composition and appointment process of the Board to give us access to a more diverse range of skills and increase Board stability.
These will take effect from the AGM on 20 October 2018, although we’re starting to implement them now.
We’re doing this to reflect the changing world of retirement savings and to make sure that our governance structure is flexible and responsive and that we have access to the skills we need to deliver policy that works for our members.
We consulted members on these changes from October 2017 to January 2018. You can read the original consultation paper here and our response here.
Our Articles of Association set out how we govern the PLSA.
The Articles require the Board to publish Rules in certain areas. In October 2017 we published rules on our Board and Councils and on our Membership and Subscriptions that apply until the 2018 AGM.
In April 2018, after consulting members, the Board agreed new Board Rules to govern its own composition and selection in future as well as Rules for the Policy Board.
WANT TO BE PART OF IT?