The governing body

What the governing body of a pension scheme needs to know and the structure, systems and controls it should have in place.

Board structure and activities
How a governing body should be set up including making appointments, role of the chair, and meetings and decision making.
Knowledge and understanding requirements
The level of understanding and knowledge that governing bodies need to have and to maintain.
Value for members
What governing bodies of defined contribution schemes must do to measure the value offered to members.
Managing advisers and service providers
How governing bodies should appoint and manage relations with advisers and service providers effectively.
Risk management
Identifying and mitigating risks facing a pension scheme, using internal controls and handling conflicts of interest.
Systems of governance
Having effective systems of governance to make sure the pension scheme operatives and manages risks effectively.
Modification of subsisting rights
Assistance for anyone seeking to modify an occupational pension scheme to discharge their duties.

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