Hymans Robertson launches governance service for Corporates’ DB pension schemes

A service aiming to help Corporates ensure they have the most effective governance structure for their DB Pension Scheme has been launched by Hymans Robertson. The service recognises that companies’ governance strategies for their schemes need to be increasingly robust, especially with the increasing regulatory scrutiny. It aims to help companies develop thorough oversight of their scheme and ensure that the right people are involved in discussions about the scheme’s strategic decisions. This is particularly important as they move toward endgame planning, argues the leading pensions and financial services consultancy.

The new service from the leading pensions and financial services firm has been designed to help corporates enhance effectiveness on collaboration with trustees and deliver wider consistency within a company’s governance policies. Overall, it will help schemes to make sure they are aligned with the regulatory direction of travel and provide comfort on the governance standards in place. Ensuring trustee effectiveness will be another benefit of the service – helping companies demonstrate to the Regulator that they have carefully considered all necessary elements to meet their scheme members’ needs.  
 
Commenting on what strong governance will deliver for Corporates, Laura Andrikopoulos, Head of Corporate Governance, Hymans Robertson says:

“TPR has rightly recognised that the pensions landscape is being challenged by domestic and global economic issues. Within this new pensions landscape, corporates must be able to demonstrate that their governance arrangements are robust and that plans are in place to address any areas of concern. It is also paramount to remember that just because a governance structure is in place, it doesn’t mean that it will remain the right one for the scheme. With this in mind, Corporates must be prepared to revisit their governance on a regular basis to ensure what is in place remains fit for purpose.    
 
“To help with this, TPR’s areas of focus provide a useful starting point. These cover areas such as conflict management, separation of decision-makers from advisers, remuneration models and quality of decision-making.” 
 
Commenting on why corporate governance matters in this changing landscape, Laura continues:

“DB Pension scheme decisions are becoming much more complex, particularly as schemes head towards endgame and now with the added complexity of surplus management. With increased regulatory scrutiny, especially on trustee appointments and oversight, the ability to demonstrate robust, fit-for-purpose governance is critical. Aligning pension scheme governance with wider corporate governance principles not only ensures compliance, but also builds resilience and trust in a rapidly evolving environment.”

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