Overview

Effective board oversight and governance for pension schemes are fundamental to safeguarding members’ interests, ensuring regulatory compliance, and enhancing scheme performance. This course emphasizes the critical role trustees play in establishing robust governance frameworks, including clear codes of conduct, remuneration policies, and regular board evaluations to maintain high standards of accountability and transparency. It highlights best practices such as strong leadership by the chair, strategic delegation to sub-committees, continuous trustee training and induction, and the use of technology to improve information flow and decision-making. Regular governance audits and performance assessments help identify areas for improvement, while fostering a culture of ethical behavior and fiduciary responsibility. By mastering these governance principles, pension boards can effectively manage risks, optimize investment outcomes, and build trust among scheme members and stakeholders.

Key Topics:

• Governance Frameworks and Regulatory Compliance: Establishing policies, codes of conduct, and adherence to guidelines such as the Retirement Benefits Authority’s Good Governance Practices.

• Board Composition, Leadership, and Chair’s Role: Ensuring a diverse mix of skills, effective leadership by the chair, and strategic delegation to enhance board functionality.

• Board and Sub-Committee Evaluation: Conducting regular self-assessments to improve performance, identify risks, and implement action plans for continuous development.

• Trustee Training and Induction: Planning ongoing, “just-in-time” training tailored to scheme needs to build trustee competence and preparedness.

• Communication and Information Management: Utilizing electronic papers, executive summaries, and clear reporting to improve decision-making efficiency and transparency.