Public Sector Pensions: Benefits and Governance Consulting Services
Thought leadership in LGPS governance and benefits
We often get asked what benefit consulting services are. Simply speaking, we aim to provide our clients with assistance with any aspect of delivering their pension scheme which does not fall under the guise of actuarial or investment matters.
Recently our specialist public sector benefits and governance team have been helping our clients with:
- Training programmes for LGPS funds – both Committee and Pension Board members
- Governance effectiveness reviews
- Administration audits (such as checking implementation of LGPS 2014)
- Compliance reviews against the new Pension Regulator's Code of Practice for Public Service Pension Schemes
- Risk management strategies and registers
- A range of policies and strategies, including Conflict of interest policies, Administration strategies, and Discretionary policies (administering authority and employer)
- Performance measurements and reporting, including scorecards
- Scheme member workshops including an overview of scheme benefits, Freedom and choice and Pensions taxation
- Efficiency tools such as training logs that automatically produce training certificates and risk dashboards
- Providing figures for scheme members regarding their lifetime and annual allowances
Best practice governance framework
Having effective governance in place helps to ensure:
- Robust risk management that can assist in avoiding issues arising or at least reducing their impact
- Ensuring resources and time are appropriately focused
- Timely decision making and implementation of change
- A clear view of how the Fund is being operated
A key element of our service revolves around the best practice framework shown below.
If you would like one of our local government governance and benefits experts to get in touch to discuss what services we can provide for you, please get in touch with Karen McWilliam at Karen.firstname.lastname@example.org or phone 07711 016707.
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