Pension Scheme Governance

Enhance the views of employees

A well-structured, well run and most importantly well communicated pension scheme enhances the views of employees towards their current or potential employer. Whilst providing a pension scheme for employees is a legal requirement the value placed on it by members correlates directly to how well it is run and delivered. Good Governance is the way in which an employer derives value from the money they spend on pensions.

Year-round support to the scheme

Prosperity Wealth's Governance provides year-round support to the scheme and its members allowing us to monitor the effectiveness of the scheme on an ongoing basis.

Annual report and presentation

We formalise this once each year with a report and presentation to business owners and Boards of Directors providing evidence of a robust process and highlighting areas for continuous improvement.

How?

  • Ongoing Member Services for all queries
  • Annual Member Reviews
  • A comprehensive Governance report & presentation
  • A review of the continuing suitability of the Pension Scheme arrangement(s) in place with consideration to any changes in the company requirements
  • Full management information in relation to contributions and membership
  • Any changes in legislative matters that require consideration
  • Default Investment Strategy Review
  • Scheme administration and capabilities
  • Member level Governance
  • A review of communications to members and their suitability
  • Communication and Education iro legislative and marker developments
  • Ensuring scheme remains fit to provide good member outcomes

Benefit for Employees

  • Enhance employees understanding and appreciation of the benefit being provided
  • Allow members the opportunity to ask questions specific to their own circumstance
  • Improve member engagement with the pension scheme and their employer

Benefit for Employers

  • Ensure the scheme remains as competitive as it can be for such an employer
  • Maximise the employer’s ROI in their pension scheme
  • It protects the business against future complaints about the choice and running of the scheme and its investment strategy

What Next?

If you are an employer and interested in discussing how the Prosperity Pension Governance Service could benefit you specifically then please do no hesitate to drop us a line at : enquiries@prosperitywealth.com

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