Pension Governance

Delivering Good Outcomes

It's time to rethink exactly what good pension governance is because it's critical to the operation of an effective workplace pension scheme.

For today’s workplace pensions, a sound governance structure can mitigate risks, avoid costly litigation and enhance efficiencies. And perhaps most importantly, it can also help ensure good outcomes for you and your employees by bringing clarity and simplicity to a topic many find complicated.

speech"It is important that members have confidence that they are saving into safe and durable products capable of delivering good outcomes" The Pensions Regulator 


The Pensions Regulator's DC code:


1. The governance committee: Make sure you have the right people involved so that your pension scheme can be well governed and members' interests are protected

2. Scheme management skills: Make sure your commmittee has the skills and knowledge to work effectively together, and with your pension scheme advisers, so that good decisions are made and members' interests are protected

3. Administration: Make sure your committee works well with your scheme administrator, and that you have the right people and processes in place to ensure members' benefits are administered to a high standard 

The Ultimate Guide to Good Governance
Available in VisionHub


4. Investment governance: Make sure you have the right governance arrangements, involving the right advisers, and that the investment strategies you put in place provide the best chance for your members to get the right outcome 

5. Value for members: Make sure you meet your obligation to assess value for members and you understand what elements contribute to the value your members get from your pension scheme 

6. Communicating and reporting: Make sure you understand your pension scheme members' views and needs, and you communicate with them at the right time and in the right way to help them make good decisions

lightbulbDid you know...
By 2018, 9 million people will be saving
into auto-enrolment workplace pension schemes

source: PS Aspire Survey 2015

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Benefits to Employers

A workplace pension scheme is a key part of your reward strategy, helping to motivate and energise your people.

Good governance helps you create a benefit that members engage with and value.

It enhances your wider reputation as an employer, helping you to attract the best new talent and retain existing talent.

It supports good member outcomes, giving your employees a route to retirement.

A robust governance structure helps you understand and adhere to current regulations and best practice.


Benefits to Employees

It can enable your people to understand how much you value them. And how you’re investing in their future. 

At its most basic, good governance helps members build savings. But, good governance offers much more too.

It can take employees on a journey, engaging and inspiring them to think about their financial future.

By giving them clear, practical information, they’re able to make the right decisions at the right times.

The 5 Pillars 

Of Good Governance


This is about much more than a simple cost/benefit analysis. Fundamental questions need to be asked and different scenarios explored.


From financial to regulatory, and through to reputational, a high-quality governance process can help manage and mitigate different kinds of risks.


Pension schemes might be about the future, but they can be an attractive part of your reward package today.


Good governance is about more than meeting the minimum legal requirements. It’s about maximising potential to ensure processes are robust and compliant.


Keeping a keen eye on your pension scheme means you can spot problems and opportunities faster and keeps the focus on member outcomes.


Welcome to the Future

Delivering Good Outcomes

Welcome to the Punter Southall Aspire pension governance service, a modern and effective solution to building a sustainable and successful DC pension scheme.

Here are a few key features of our pension governance service:

Annual Governance Meeting
Held either at your offices or ours.
Secretarial Services
Agenda, papers, minutes and actions.
Consultancy Services
Using management information in conjunction with our analysis we provide a governance toolkit.

Governance Toolkit

  • Quality features checklist – allows you to measure your scheme against The Pensions Regulator’s key criteria for DC schemes.
  • A scheme-specific report detailing the ongoing performance of the plan and provider.
  • Default investment report providing independent analysis of the default investment option.
  • Vision – a detailed newsletter covering relevant legislative developments.

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