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Governance

 

Practical governance support to help you maximise your pension scheme


Governance is about steering your pension scheme to achieve the right results for you and your employees. In addition to value for money, governance is becoming an increasingly strong theme in the world of pensions. You are expected by the Pensions Regulator to ensure that the pension scheme you put in place remains fit for purpose to deliver the best outcomes for the members. We believe good governance is simply good business practice.


Why is good governance important?


Good governance does not just mean doing it; it means having the processes and audit trail to evidence that you have done it too. Governance aids effective decision-making, provides clear accountability and also helps you manage and mitigate any associated risks. Governance and the supporting management information enable you to highlight and quickly remedy areas where your pension scheme and supporting employee benefits are not achieving the desired outcomes.

 
It is in your own interests


Employees need help in understanding how pensions work, and support in making decisions on how much to save, when to retire and how pensions fit into the wider context of financial planning.  A business that supports its employees in this way as part of the governance process will find that it can make long-term savings in employment costs and attract and retain an engaged workforce; allowing the business to remain competitive and grow.


Jelf Support


We have a range of governance services to help you. Click here to learn more