21st Century Trusteeship

TPR’s 21st Century Trusteeship campaign reflects their aim to drive more uniformly high standards of scheme governance across pension trustee boards, with more intervention and use of enforcement powers. As part of this, TPR is publishing a guidance series over the coming months to help trustees know what good looks like.

Applying guidance can’t be a ‘one size fits all’ approach and there’s always a risk of box ticking. But in our view when increased trustee understanding and attention to good governance is proportionate and of value to the scheme, it does help better run a pension scheme.

This part of our site covers the TPR guidance areas, and related aspects that are worth commenting on, based on client experience. Of course, 21st Century Trusteeship is tightly intertwined with the ongoing discussion of Professional Trustee Standards. We recently submitted our consultant response to the Working Group, whose efforts we applaud in grappling with this challenging issue. Our response can be read here.


Who to Contact

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Lindsay Hawkins

My expertise is in Trustee governance and risk management. I help Trustee Boards and sponsoring employers ensure their governance is top-quality.

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What do you do?

I specialise in outsourced pensions management, trustee governance and effectiveness projects and help Trustees evaluate their executive resource needs.

What is your background?

I’m a Fellow of the Pensions Management Institute and been involved in managing pension funds for almost 20 years. Most recently as Head of Pensions & Benefits for Rexam PLC (a FTSE 100 company recently acquired by a US competitor, Ball Corp). Prior to that I held a pensions management roles in-house for Fujitsu Services and was Pensions Manager for Société Générale Corporate & Investment Bank. Going back even further, I worked in the consulting environment, primarily in outsourced pensions management roles.

What do you bring to Muse?

A lot of practical experience of how to run a pension fund well and get things done. Most of my in-house roles have involved dual aspects being both Head of Pensions/Pensions Manager for the sponsoring employer but also Secretary to the Trustee Board. I therefore understand, in depth, the business drivers for both sides and how to reach solutions which work for everyone. I work best by building good relationships, so enjoy creating teams where everyone understands the pension arrangements’ objectives as well as the strategy for getting there – which really helps Trustee Boards measure success.

What do you do for fun?

It may not be everyone’s idea of fun but my husband and I help out in our local church. Community is important to us both plus it’s great to have lots of friends locally when you lose your keys. Having a desk job means I like to be active whenever I have some free time so I’m a regular at my local gym, I love street dance, weights and yoga - but not all at once. I’ve also been on a lifelong quest to become a wine connoisseur but require much more practice.

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Barry Mack

I specialise in governance, trustee effectiveness, pension management (including administration) strategy and large change management projects.

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What do you do?

I am a Director of Muse Advisory and specialise in DB & DC pensions, governance (especially funding, investment and risk management), trustee effectiveness, outsourced pensions management, pension management (including administration) strategy and large pension change management projects. I particularly enjoy facilitating trustees to fully articulate their objectives and beliefs and, consequently, to be as effective as they can be.

What is your background?

I’m an actuary and have worked in governance, administration consulting and DC arenas at Mercer and Hymans Robertson. At Hymans Robertson I was a partner, Head of Governance, Risk Group chairman and DC Governance Committee chairman.

What do you bring to Muse?

More than 30 years of financial, pensions and business experience supported with strategic, technical and commercial skill, and a heavy dose of pragmatism.

What do you do for fun?

Bellringing, photography, Lego! And watching F1 with my two (now grown up) sons.

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Julia Land

My expertise is in pension trustee effectiveness and development for boards, committees, trustees and those in chairing roles. Corporate governance and board engagement with stakeholders are also useful areas of experience. 

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What do you do?

I’m an Associate Director with Muse Advisory and have been involved with the firm since 2009. I major on board effectiveness and governance development, working with a wide range of boards including, with my Muse Advisory hat on, pension trustee boards.

I am also an associate with another independent governance firm, Independent Audit (corporate boards).

Much of my career has been spent with blue chip quoted companies and their boards. This has been fantastic experience which I can apply where it’s relevant in my current work.

Outside Muse, I am also a pro-bono independent trustee role for Crouch End Festival Chorus. If you haven’t heard or seen us perform yet, there are lots of opportunities coming up!

What is your background?

I started after university by qualifying as a chartered accountant at Arthur Andersen & Co and became part of their specialist oil and gas group, which in turn led me to the City. I’ve had three main careers so far in the related worlds of governance, investment and finance. In the ‘governance’ leg I’ve also trained as a coach and qualified on development tools such as Myers Briggs.

I’ve been a board governance advisor now for eleven years. This specialism developed from my earlier career in the institutional investment markets at Warburgs where I created and led the investor relations advisory services for corporate boards within the stockbroking business, and then at Deutsche Asset Management where I advised and worked with institutional pension fund boards as a fund director.

What do you bring to Muse?

What I hope I bring is expertise, a sense of proportion, good client skills and a sense of humour. People say I also make excellent cakes and that I sing well, which is useful when people are hungry and/ or need cheering up.

What do you do for fun?

I love the outdoors and swim in ponds and rivers when I get the chance. My real career of course has been waiting hand and foot on my two children and husband in the hope that they will one day return the favour. Ahem, I’m still waiting…

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Rosanne Corbett

I specialise in pensions and benefits governance, trustee effectiveness, workshop facilitation, change projects and risk management.

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What do you do?

My work is varied; from trustee effectiveness reviews, facilitated workshops and risk management to reviews of the DC market and provider selection exercises. Managing projects is something I like to do and I have managed them on both sides of the fence, which gives me a good perspective on what clients want.

What is your background?

I became an international employee benefits consultant with Mercer in 1999. My language skills were useful, having lived in Germany. I helped multinational companies design and implement their employee benefit structures, choose the right providers and communicate with employees. I have led benefit audits, multinational pooling implementation and global governance and risk management projects.

From global, I moved to local and became heavily involved in UK-specific pensions and trustee governance as the Pensions Act 2004 came into force.

What do you bring to Muse?

My get up and go. A former colleague once described me as a “completer finisher”, someone to depend on to get the job done. I am a perfectionist in nature and if I’m doing something, I will do it to the best of my ability and make sure it meets, and ideally exceeds, expectations. I have a thirst for learning (I’m doing a physics degree in my spare time) which means I like to challenge and push the boundaries.

What do you do for fun?

I love the outdoors. In the day time, you might find me horse riding, walking my dog and trying to entice my children to come along. My passion is amateur astronomy, so at night, I’ll be found in the garden, eyes glued to the sky.

I love art and have dabbled at Chelsea School of Art only to realise that my enjoyment lies in painting for pleasure. I'm also vice chair of the governing body of a school. Being a governor has made me appreciate the time and energy that trustees need to commit to do a good job!

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Muse Advisory helps trustees and companies to better govern and manage their pension schemes. We believe that good governance leads to improved outcomes for members; through better fund performance, effective and proportionate management of risk, value for money and cost efficiencies and strategic and dynamic decision making.

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