The free guides are designed to help pension funds and others in the pensions industry get to grips with technical topics – minus the jargon. The new Made Simple Guides were launched at the PLSA’s Annual Conference and Exhibition 2017 which took place in Manchester last week.
Lesley Williams, outgoing Chair of the Pensions and Lifetime Savings Association, said: “As we all know, the world of pensions is complex. Pension scheme trustees and employers need to be able to get to the heart of an issue quickly and our Made Simple Guides are designed to help them understand a wide range of technical topics.
“We would never be able to provide this invaluable range of guides without the input of our partners and I would like to express my thanks to Cardano and Lincoln Pensions, Schroders, and Equiniti, who have dedicated their time and expertise in putting together these guides.”
The Fiduciary Management Made Simple Guide, written and sponsored by Schroders, aims to help pension scheme trustees understand how fiduciary management can help them overcome the typical difficulties faced by defined benefit (DB) pension schemes in managing investment portfolios.
Hannah Simons, Head of Fiduciary Management at Schroders, commented: “Although the Fiduciary Management market has grown considerably over the past decade in the UK, there still exists a lack of clarity in the industry as to the scope of the services involved. We hope that this guide helps trustees understand the breadth of Fiduciary Management services, as well as explaining ways in which it can help overcome the typical difficulties faced by schemes in managing investment portfolios. We also include a guide on how to select a fiduciary manager, while highlighting certain aspects of the subject which trustees should consider carefully before they adopt such an approach.”
The Good Quality Data for the Private Sector Made Simple Guide, written and sponsored by Equiniti, provides an understanding of what is necessary for good quality data and what it should look like for pension schemes.
Ric Williams, CEO EQ Paymaster at Equiniti, said:“Healthy pension scheme data sits at the heart of effective administration. Scheme’s need to overcome data issues and be proactive about their ongoing data health. This will only happen if there is a strategic plan and behavioural shift towards prioritising, improving and maintaining data quality. There is no better time to act than now.
“This Made Simple Guide gives scheme stakeholders an insight into the drivers for good quality data – both risks and benefits – and helps define what ‘good’ really looks like for each scheme. It also offers a practical step-by-step guide from scope, through assessment, to fix and maintain; enabling stakeholders to get and keep their data in shape.”
The Integrated Risk Management Made Simple Guide, written and sponsored by Cardano and Lincoln Pensions, explains the concept of Integrated Risk Management (IRM) and highlights effective implementation options to help trustees and sponsors achieve their objectives together.
Kerrin Rosenberg, CEO, Cardano Risk Management, commented: “Trustees and sponsors have been encouraged to adopt Integrated Risk Management for their defined benefit pension schemes for over three years but, so far, its adoption has not been widespread or fully effective. This is concerning given the uncertain outlook for the UK.
“This guide gives an overview of IRM, covering how trustees, sponsors and advisers can work together to address the interrelationships between the three fundamental areas of covenant, investment and funding. Joined-up thinking and balanced decisions are the order of the day, and this guide will help the reader integrate the approach into the management of their scheme.”
|
