DC Governance
Good governance forms the
cornerstone of any Defined
Contribution (DC) pension
arrangement, and Sovereign now
aims to establish comprehensive
governance programmes for all our
clients wishing to address this.
We will work to introduce a robust governance process designed to meet the Pensions Regulator's best practice recommendations, and ensure the pension scheme meets your employees' expectations.
We will also provide comprehensive ongoing support in this area. This will include regular updates on legislative and regulatory requirements, and proactively helping you deal with issues that arise as a result, such as autoenrolment.
It is important to stress that all parties will benefit from this type of process and the table opposite summarises these main benefits.
We will work to introduce a robust governance process designed to meet the Pensions Regulator's best practice recommendations, and ensure the pension scheme meets your employees' expectations.
We will also provide comprehensive ongoing support in this area. This will include regular updates on legislative and regulatory requirements, and proactively helping you deal with issues that arise as a result, such as autoenrolment.
It is important to stress that all parties will benefit from this type of process and the table opposite summarises these main benefits.
We also consider review meetings,
benchmarking and supplier performance
tracking as essential elements of the corporate
governance procedure. We would seek to
develop a meeting programme with the provider
that documents the relevant measurement
criteria for service level agreements (SLAs).
Engaging them in at least bi-annual client
review meetings derives best value and
performance, whilst also ensuring that you are
kept informed first-hand of developments.
Review meetings enable the Employer and
its advisers to discuss the annual review and
service issues, and to set the expectations for
scheme management for the forthcoming year,
whilst benchmarking and supplier performance
tracking allows us to take an independent view
of your provider and to discuss particular issues
and identify trends.