PITstop

Member Options

In this edition we chat to Karein Davie, Professional Pension Trustee at Clarity Trustees, to discuss member options.

Why are member options getting put back onto agendas? With trustees now taking control, member options are part of the journey to endgame, while aiming to save money and reduce risk. However, we need to ensure the member is put first, rather than just it being a cost-saving exercise. Karein provides tips for trustees in undertaking member options exercises, as well as take-up rates.

We then go on to discuss what the successful ingredients are for effective member communications.

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How fiduciary management is evolving

We chat to Lynne Stewart-Brindle, Partner and Deputy Chair of PAN Trustees, on how fiduciary management is evolving.

During the PITstop Lynne explains why she is a fan of fiduciary management, how Trustees can find the right kind of fiduciary manager for them, and utilising external experts in formal review processes.

We also discuss how fiduciary management offerings have evolved in recent years, with competition driving down costs and more visibility, as the market matures to offer solutions for all different sizes of scheme.

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Diversity & Inclusion

We chat to Naomi L'Estrange, Managing Director at 20-20 Trustees, on Diversity & Inclusion, and developing a culture in which everyone can bring their whole selves to work.

During the PITstop we discuss what makes an authentic leader, banning the word 'gravitas', and Naomi's D&I journey at 20-20 Trustees. This journey has involved creating a better team balance and attracting new talent into trusteeship. We also look at how others can improve their own team balance, what to consider during recruitment, and barriers to progress within organisations.

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Current issues in DC

We chat to Samantha Pitt, Director at Law Debenture, on current issues in DC. How will being a DC Trustee change over the next couple of years? With company attitudes to DC schemes starting to shift, and the number of master trusts reducing, Samantha thinks the recent DWP consultation and forthcoming value for members assessment will see further consolidation in the market.

Integrating ESG into all asset classes is another important issue for schemes to address, with some master trusts more pro-active on climate than others. Member communications and engagement tools will be key considerations for DC schemes in future, with a focus on education for members. With so much to consider, Samantha also gives tips for those looking at selecting a new DC provider.

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