Voluntary scheme governance

We can support you with voluntary governance for contract-based defined contribution schemes (in other words, group personal pension, group self-invested and group stakeholder schemes).

What is voluntary governance?

It simply means that employers carry out regular reviews. The benefits of doing this include:

• Better employee retention rates
• Reduction in member complaints and easy identification of admin problems
• Easy to monitor how competitive scheme is

The Pensions Regulator (tPR) recognises the importance of reviews and has split them into three main categories:

Investment governance

With the recent economic uncertainty, selecting the right funds for your pension scheme - and having proof and research that shows these are the right funds - is even more important.

Our strong fund governance ensures our funds perform in line with fund objectives. All our investment options have a formal review process – at no extra cost. And we have two independent research houses (Old Bond Street Research and Mercer) to help us research and monitor funds.

There's no guarantee that a fund's objectives will be met. 

National Association of Pension Funds (NAPF)

The National Association of Pension Funds (NAPF) has started to offer the Pension Quality Mark for group personal pension, group self-invested personal pension and group stakeholder pension schemes that meet three core tests. Successful employers will be able to use the prestigious Pensions Quality Mark logo on scheme literature and in job adverts.

The three core tests cover:

Next steps

If you would like more information, you should talk to your financial adviser.

If you don't have one, find a financial adviser in your area.

Contact us

Find out how to get in touch with us.