Pension Scheme Secretary
With access to a pension scheme secretary and an independent pension scheme manager, our experienced team of pension professionals can support your Trustee board accordingly. They can also work in isolation or as part of an in-house team.
Adding value as a Pension Scheme Secretary
Independent Pension Scheme Secretaries And Managers
Our team of highly qualified pension scheme secretaries with detailed knowledge of legislative, market and governance developments will work alongside the Trustee Board as a key part of the team. This helps ensure your pension scheme is efficiently and professionally managed, so that the Trustee Board can focus on the role of trusteeship. A pension scheme manager can make your life easier because we will:
- Oversee and manage daily activities.
- Work closely with the Trustee Board to design, implement and deliver an effective system of governance.
- Oversee advisers and deliver robust budget controls.
Having an independent pension scheme secretary provides access to a valuable sounding board able to share knowledge of best practices across the pension industry. At Pi, we are able to bring a non-conflicted perspective as we do not provide other advisory services such as actuarial and investment consultancy.
We understand that every pension scheme is different which is why our independent pension scheme secretary support is designed to meet your specific needs. We work with you to identify where we can add the greatest value with a view to becoming your trusted partner.
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Scheme Secretarial Services
Increasingly the role of the traditional in-house pension manager is being outsourced. As well as delivering professional scheme secretary services to the Trustees, our Pension Manager service acts as a bridge between the Trustee Board and the Company.
This includes strengthening the relationship to help deliver mutually agreed pension scheme objectives, managing budgets and supporting HR teams, as required, to develop member engagement. Our independence and market knowledge adds significant value in overseeing complex projects such as risk transfer exercises.
Our highly experienced team, provide full meeting management services to trustee boards and sub-committees with clear SLAs and delivery against all regulatory requirements. We work closely with the Chair to design and manage agendas and meeting papers to make the best use of trustee time.
Our proactive support enables trustees to focus on delivering the scheme objectives as efficiently as possible. This is supported by our work with advisers to deliver meeting papers in a timely manner and in a format that aids informed decision making.
The backbone of pension scheme management, meeting minutes and actions have become increasingly important as a means of demonstrating good governance.
As experienced pension professionals we regularly work alongside in-house pension teams to provide a timely and trusted minute writing service tailored to your timescales and in-house style requirements.
A core part of TPR’s guidance to trustees is to ensure that they regularly review the performance of their advisers. We can help you put in place measurable metrics and a transparent ongoing monitoring process to help build strong and cost effective relationships with advisers.
Good contract management and the effective use of tailored Key Performance Indicators (KPIs) ensures the scope of the service is clear to all parties and will highlight any issues at an early stage to prevent the need for costly rectification.
Keeping control of scheme costs is an essential part of good scheme governance. It helps demonstrate to the sponsoring Company that the Trustee Board is taking a businesslike approach to scheme management.
We work with you to agree the scope of work undertaken by the adviser, ensure fees are competitive against the wider market and can negotiate on your behalf as necessary.
We have designed an in-house budget management system that provides regular updates across ongoing work and standalone projects. Our system also provides robust invoice management and support for VAT reclaim as necessary.
Pension Scheme Secretary Frequently Asked Questions
What makes a good Pension Scheme Secretary?
A good Scheme Secretary plays a pivotal role in ensuring the smooth and compliant operation of the Trustee Board. In our experience, the best scheme secretaries combine attention to detail, strong organisational abilities, a proactive approach to problem solving and the stakeholder management skills of a top UN diplomat.
What value is added by an independent Scheme Secretary?
Scheme secretarial services can be provided by another scheme adviser, such as the administrator or legal adviser. It can also be provided by a member of the Employer’s HR or finance team. We find that people appoint an independent secretary for this role where they want to avoid any conflicts of interest and have a resource dedicated to the Trustee. This enables the scheme secretary to oversee all advisers and their budgets free of any commercial sensitivities. As a specialist support to the Trustees they can provide an overview of the very latest in pension scheme governance developments in a way that is rarely available to an employer based resource.
What is the minimum size of scheme where this service adds value?
This is very much dependent on the individual situation, although an independent secretary is less common for small schemes. Where there is scheme complexity, multiple advisers, additional risk management requirements, lack of internal resources or no professional Trustee, an independent secretary can add significant value.
What is the role of a Pension Scheme Secretary?
The pension scheme secretary holds a crucial governance and administrative role in overseeing the management of a pension scheme. Their main responsibility is to ensure the scheme runs smoothly, adheres to legal and regulatory requirements, and provides essential support to trustees in carrying out their duties.
Get Started With A Pension Scheme Secretary Today
In order to guarantee the efficient administration, compliance, and governance of a pension plan, the position of pension scheme secretary is essential. In order to ensure best practices and regulatory compliance, PI Partnership Group offers professional pension scheme secretarial services that are customised to your needs.
To find out how an independent pension scheme manager can help your pension plan succeed, get in touch with us today,
Or read more about our other trustee executive services. Discover more about how we support trustee board governance or if your scheme advisers need assessing next to your new scheme requirements.
