Case Studies

Muse 398

Trustee Resourcing

13 Dec 2021

Case studies

We often work with trustee boards who, for various reasons, have found it necessary to assume a more operational role: more like an executive management team than the non-executive role intended for trustees.

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What is the right DC scheme for you?

13 Dec 2021

Case studies

The sponsor had put in place a contract based scheme early in the 2000s, and had changed provider in 2007. As the scheme had grown and become the main scheme for employees, and the governance committee had taken a more active role in the scheme, it was becoming clear that the solution was not matching the needs of the sponsor nor the scheme members.

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Moving to a Master Trust

13 Dec 2021

Case studies

The company had recently undertaken a strategic review of its DC arrangements and concluded that there were efficiencies to be made in the DC running costs. A Master Trust might provide the most cost efficient means of providing the DC benefits, but as their DC adviser also runs a Master Trust, the company recognised that the adviser would be conflicted.

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Approaching Risk Management

13 Dec 2021

Case studies

Risk management had become “stale” and needed refreshing or so thought the Trustees’ risk committee at least. Consequently, Muse were commissioned to conduct an independent review of the Trustee Board’s risk management framework with a view to improving effectiveness.

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Transforming Administration

13 Dec 2021

Case studies

Our client was experiencing issues with their administration service. They were on a legacy system that wasn’t well integrated, and were being serviced from an office that was experiencing some resource challenges. The provider was distracted and the combination of these factors led the service quality to fall. The service had become so poor, and the response so inadequate that the client was considering other options in the market.

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Selecting an Actuary

13 Dec 2021

Case studies

Our client had two schemes, each with a different actuary. This wasn’t a problem, but it was time for a review and they wanted to consider the benefits and downsides of sharing an actuary across the two schemes.

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Approaching Renegotiation

13 Dec 2021

Case studies

Although it’s not a document anyone wants to be constantly referring to, the contract between Trustees and their administrator is crucial in governing the relationship. It is important that as a renewal approaches it isn’t just rolled over. It needs to be looked at afresh to make sure it still reflects what the Trustees need from the service, and the services actually being delivered.

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Making the Selection

13 Dec 2021

Case studies

We were appointed to help our client develop a pre-selection process for a single MNT vacancy on their trustee board. The candidates were always going to go to ballot, but the trustee wanted to be able to exercise some control over the skills and aptitudes of the candidates.

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Governing Investments

13 Dec 2021

Case studies

A company-appointed trustee felt that the trustees were rather too passive when it came to the investment strategy. This individual trustee felt the trustee board wasn’t considering all their options and weren’t making the best use of their investment adviser. However, being a company-appointed trustee meant that there was a risk of perceived conflict and he recognised that can be just as damaging as the real thing.

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Outsourcing Investments

13 Dec 2021

Case studies

Our client had an in-house investment team including provision of investment advice and some direct investment management and was on a journey towards a greater level of outsourcing. However, they didn’t know how they should approach the range of options for outsourcing, while pursuing their objective to further derisk the scheme.

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