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