Effective Governance

Effective Governance

WHAT IS EFFECTIVE GOVERNANCE?

Developed in collaboration with KPMG, the PLSA Effective Governance service aims to help individuals involved in running a pension scheme to review their scheme governance and check how it measures up to the Pensions Regulator's expectations of best practice. There are two versions of the tool:

  • Effective Governance for Trustee Boards of trust-based schemes and,
  • Effective Governance for LGPS Funds including pension boards, LGPS pension managers and pension committee members

Both Effective Governance services can also include other individuals that play a key role in the running of a pension scheme, where appropriate.

WHAT DOES IT PROVIDE?

Effective Governance offers an online questionnaire to be completed by each member of the scheme (and potentially by other individuals that play a key role in the running of a pension scheme). The responses to the questionnaires are collated anonymously to produce a report based on the collective results of all participants. The report is reviewed by a KPMG consultant who will add commentary, insights and suggestions for next steps. The report and its supporting data is then used to prepare and facilitate a workshop where the report is discussed with participants (and as appropriate, any interested parties to be agreed).

HOW LONG DOES THE REVIEW TAKE?

Access to the online questionnaire is available for three months from the date login details are issued, or until the date the post questionnaire report has been received, whichever comes first.  Ideally questionnaires should be completed within 4 weeks of receiving login details as these are sent to each participant at the same time. Workshops should be held within 3 months of the date the post questionnaire report is received. In the absence of exceptional circumstances most reviews will be completed within 6 months.

How much does it cost?

 Up to 9 users of the questionnaire:

 £4500 (PLSA members),

 £5250 (Non-members)

 Over 9 users of the questionnaire:

 £5000 (PLSA members),

 £5750 (Non-members)

  • Costs are exclusive of VAT
  • A proportion of this fee will be paid to KPMG in recognition of their collaboration on this service.
  • Reasonable expenses will be charged at cost for the delivery of the workshop, where travel is necessary.

How do I find out more?

Get in touch using the request for information form below.

Should you require more information, please contact Claire Simmons: 020 7601 1735  |  governance@plsa.co.uk.