As pension funds continue to streamline their internal processes to ensure they support the best investment strategy and administrative structure, good governance practices have become an essential aspect of running a pension scheme. Adopting and adapting good governance is also increasingly important as companies adopt defined contribution arrangements in place of or to complement defined benefit plans.
Governance is the thread that unites and oversees the various internal frameworks and mechanisms that are designed to:
enhance investment performance
support robust risk management
protect the security of member benefits
manage relationships with external advisers and other providers
To achieve these objectives, among the essential practices comprising a robust governance model, the judges would be keen to see how you have structured the following elements and how they interact successfully