Navigating governance challenges: Insights and strategies for trustees
Insights and strategies for trustees
The governance landscape for pension trustees is becoming increasingly demanding, shaped by regulatory changes and new risks.
To understand how trustees are navigating and responding to these challenges, we surveyed trustees across the UK pensions landscape, including defined benefit (DB), defined contribution (DC) and hybrid schemes.
Our experience shows that even well-resourced trustee boards benefit from external expertise to ensure their governance framework is fit for purpose.
Kelly Buckland, Senior Principal, UK Governance Leader, Mercer
Their responses illuminate the key governance pressures facing the pension industry, as well as practical steps for trustees to benchmark their governance frameworks and address challenges.
Across each of our six key governance themes, we aimed to inspire action, detailing not just the challenges trustees face but also expert advice on how they can prepare to meet them.
Key findings
-
39%
Of respondents regularly review their professional trustee. -
82%
Have not carried out a cyber crisis scenario test or think this is not relevant. -
15%
Think it will be a struggle to comply with the General Code requirements. -
35%
Have not thought about Pensions Dashboard compliance, or are leaving it to their administrators.
Navigating Governance: Essential Insights and Strategies for Pension Trustees
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