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Pensions Trustees: Planning for 2020

January 07, 2020

Research conducted this year in the UK shows that most Boards of Trustees rate their own effectiveness highly, and perhaps much more highly than they should, given the fact that they rarely actually internally review that effectiveness with accurate metrics. In fact, as the International Centre for Pension Management at the University of Toronto’s Rotman School of Business demonstrates, there isn’t even evidence to show that independent reviews of boards of trustees are effective.

What’s going on? Boards worry about their collective ability to make informed and timely decisions about their pension responsibilities and implement them effectively, but don’t often dig deep enough to figure out what’s going wrong.

In our new paper on planning ahead to create a strategic Board of Trustees for your pension plan in 2020, we’ll discuss the key issues you need too know about when it comes to building an outstanding Board of Trustees, for your pension goals. We’ll talk about finding and appointing suitable people from both the member-nominated and company-nominated options. Find out how to develop a clear agenda, in terms of reference, critical delegations, good advice papers and a robust audit trail. Learn how to facilitate assessments to highlight shortcomings even where trustee confidence is high.

At Marris Miller, we know how important it is to choose effective and strategic pension trustees.

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