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. 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?

Going through an effectiveness review is a bit like undergoing a 'health check'. It helps you gauge how your board thinks it’s performing, and how it measures up against the Pensions Regulator’s (TPR) expectations of a well-governed scheme. 

What our effectiveness review offers: 

  • Independent, specialist, third-party review. The PLSA and KPMG have decades of experience and conduct the assessment from a completely independent standpoint. 
  • Wide coverage of TPR guidance. The tool touches on all the key areas that TPR has issued guidance on so far. 
  • Open and honest feedback. All submissions are anonymous and the results collated, enabling board members to be completely open about any issues or concerns. 
  • Efficiency. Creating and implementing an assessment process can be hugely time-consuming and have limited results. We have done the hard work for you. 

How the process works

  • Each individual completes an online questionnaire. There are 140 multiple-choice questions and it takes about 30 minutes to complete. Download sample questions
  • The results are collated and analysed by experienced consultants. Bespoke commentary on the key insights is added to the anonymised results. 
  • Key insights and possible next steps for addressing issues are presented in an interactive workshop arranged at your convenience.

How do I find out more?

To find out more contact Claire.Whittaker@KPMG.co.uk