- A system of meetings, reporting and governance processes;
- Ongoing engagement, communication and collaboration
- Testing of service delivery
- An early warning system for issues
- Timely resolution of issues and complaints
- Transparent reporting providing the right information
- Past experience of poor administration
- Contract approaching renewal
- Complacency and lack of attention in the service
- Insufficient internal resource for robust oversight
- Lack of transparency in reporting
- Provide comfort on risks and fees
- To bring best practice and wider market knowledge to bear on the service
- To make the governance aspects of the contract real
- To ensure you’re able to deliver on the sponsor and trustee promise – to pay the right benefits to the right people at the right time
Musings | 18 Mar 2025
Pensions Managers: are we heading into the perfect storm?
Ellen Ratcliffe looks at the role of the pensions manager, which has become significantly more demanding, with the need to build a range of multi-disciplinary skills to navigate increasing complexity. Ellen breaks this complexity down into business-as-usual tasks and the increasing weight of project work, such as dashboards, GMP work and end-game journey planning.
Musings | 18 Mar 2025
Value for money: Where next?
Paul Armitage, DC Lead for Muse, looks at the proposed new value for money (VFM) framework that is likely to apply to all workplace pension schemes, touching on proposals for public disclosure of scheme performance, market reaction and how VFM fits into the wider political landscape.
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