Board Evaluation for Pension Funds
Contact us now
Interview-Based External Board Effectiveness Reviews
Interview-based board effectiveness reviews help pension fund trustees get an in-depth understanding of the strengths of their Trustee Board as well as identifying the things they can do to become more effective.
We have worked with a range of Funds, who value our ability to look at their specific role in relation to members and the Sponsor. At the same time, we’re able to bring examples of good practice to them from our many FTSE-listed and public sector clients.
Whatever the organisation, the Board needs to be well supported with good quality, clear information, and it needs to work well as a group, challenging and supporting executives.
Interviews with trustees, executives, advisors and the Sponsor explore how well the Board is exercising its duties, overseeing member communications, investment strategy, risk management and administration.
By reviewing board papers, we’re able to see how information is communicated to the Board and its committees, and how the different groups work together. We also observe board and committee meetings to see how they work in action.
The composition of trustee boards is a particular challenge given the requirements regarding numbers and appointments of member-nominated and company-nominated trustees.
At the same time, as is the case at any board, there needs to be a balanced and diverse group of trustees with the right skills to support the Fund.
Questionnaire-Based External Board Evaluations
Some external reviews are best handled by using a questionnaire to gather opinions. Our approach helps pension fund trustees to engage with the questionnaire, leaving comments and explanations of their views.
Thinking Board®, our online tool, provides you with a range of questionnaires tailored specifically to pension funds, covering the Trustee Board, the Investment Committee and other committees. We help you customise the questionnaire – if needed – to your own specific circumstances.
You’ll receive a clear report, drawing out suggestions based on what works well elsewhere – both at pension funds and at other types of boards.
And we’ll lead a discussion on the findings and possible actions for the whole Board.
For a more thorough review, you can also include board observation and a review of the board papers as part of a questionnaire-based evaluation.
Board Evaluation Software
Pension funds can use our board evaluation questionnaires for your internal board reviews. They are easy to use, and respondents can fill them in online.
Our questionnaires get quickly to the heart of governance issues and they’re engaging to fill in. Structured to help you identify areas for improvement and root causes, you can tailor them to your needs.
Automated reporting allows you to draw out the emerging themes, identifying any divergence of opinions, such as between trustees and executives.
Simply export the charts to Word to build a board paper which gives trustees the reporting they need to have a good debate about how to make the Board better.
Our Credentials in the Pensions Sector
We’ve conducted interview-based and questionnaire-based reviews with the Funds of Barclays Bank, Unilever, BMW (UK) and others.
The Pension Regulator selected us to do their external review, as did the Pension Protection Fund and the Financial Conduct Authority.
We’ve also worked with Pension Insurance Corporation (PIC), a provider of buy-outs and buy-ins to trustees and sponsors.