- Fiduciary Management
- Good Quality Data for the Private Sector
- Integrated Risk Management
Three new Made Simple Guides on Fiduciary Management (written and sponsored by Schroders), Good Quality Data for the Private Sector (written and sponsored by Equiniti) and Integrated Risk Management (written and sponsored by Cardano and Lincoln Pensions) have been published by the Pensions and Lifetime Savings Association (PLSA), adding to its library of essential resources for the pensions sector.
The free guides are designed to help pension funds and others in the pensions industry get to grips with technical topics – minus the jargon. The new Made Simple Guides were launched at the PLSA’s Annual Conference and Exhibition 2017 which took place in Manchester last week.
Lesley Williams, outgoing Chair of the Pensions and Lifetime Savings Association, said:
“As we all know, the world of pensions is complex. Pension scheme trustees and employers need to be able to get to the heart of an issue quickly and our Made Simple Guides are designed to help them understand a wide range of technical topics.
“We would never be able to provide this invaluable range of guides without the input of our partners and I would like to express my thanks to Cardano and Lincoln Pensions, Schroders, and Equiniti, who have dedicated their time and expertise in putting together these guides.”
The Fiduciary Management Made Simple Guide, written and sponsored by Schroders, aims to help pension scheme trustees understand how fiduciary management can help them overcome the typical difficulties faced by defined benefit (DB) pension schemes in managing investment portfolios.
Hannah Simons, Head of Fiduciary Management at Schroders, commented:
“Although the Fiduciary Management market has grown considerably over the past decade in the UK, there still exists a lack of clarity in the industry as to the scope of the services involved. We hope that this guide helps trustees understand the breadth of Fiduciary Management services, as well as explaining ways in which it can help overcome the typical difficulties faced by schemes in managing investment portfolios. We also include a guide on how to select a fiduciary manager, while highlighting certain aspects of the subject which trustees should consider carefully before they adopt such an approach.”
The Good Quality Data for the Private Sector Made Simple Guide, written and sponsored by Equiniti, provides an understanding of what is necessary for good quality data and what it should look like for pension schemes.
Ric Williams, CEO EQ Paymaster at Equiniti, said:
“Healthy pension scheme data sits at the heart of effective administration. Scheme’s need to overcome data issues and be proactive about their ongoing data health. This will only happen if there is a strategic plan and behavioural shift towards prioritising, improving and maintaining data quality. There is no better time to act than now.
“This Made Simple Guide gives scheme stakeholders an insight into the drivers for good quality data – both risks and benefits – and helps define what ‘good’ really looks like for each scheme. It also offers a practical step-by-step guide from scope, through assessment, to fix and maintain; enabling stakeholders to get and keep their data in shape.”
The Integrated Risk Management Made Simple Guide, written and sponsored by Cardano and Lincoln Pensions, explains the concept of Integrated Risk Management (IRM) and highlights effective implementation options to help trustees and sponsors achieve their objectives together.
Kerrin Rosenberg, CEO, Cardano Risk Management, commented:
“Trustees and sponsors have been encouraged to adopt Integrated Risk Management for their defined benefit pension schemes for over three years but, so far, its adoption has not been widespread or fully effective. This is concerning given the uncertain outlook for the UK.
“This guide gives an overview of IRM, covering how trustees, sponsors and advisers can work together to address the interrelationships between the three fundamental areas of covenant, investment and funding. Joined-up thinking and balanced decisions are the order of the day, and this guide will help the reader integrate the approach into the management of their scheme.”
PDF versions of these ‘Made Simple’ guides are available to download FREE from the Pensions and Lifetime Savings Association website. Printed copies are also available and can be ordered online at www.plsa.co.uk (£18 for members and £35 for non-members).
Lee Blackwell, Head of Media and PR, Pensions and Lifetime Savings Association
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Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association
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Eleanor Carric, PR Manager, Pensions and Lifetime Savings Association
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NOTES TO EDITORS:
We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.
Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.