Governance and administration

Why managing systemic risk is core to trusteeship

/ Mark Hill
Illustration depicting a red warning sign, a globe highlighting continents, a sheet of paper labeled 'GUIDANCE', and speech bubbles, emphasizing themes of climate and sustainability in investment governance.

In today’s pensions landscape, awareness of and managing systemic risks is not a “nice to have”, it’s a core part of effective trusteeship.

Climate change, nature loss, and other systemic risks are not abstract concerns. Where they are financially material, trustees have a duty to understand and manage them as part of their fiduciary responsibilities. Strong investment governance is essential, especially in complex areas such as environmental, social and governance (ESG) and private markets.

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Calling on trust-based pensions to help shape the value framework which will impact millions

/ Nina Blackett

The Pensions Regulator (TPR) has been working with the Financial Conduct Authority (FCA) on a value for money framework consultation for contract-based schemes, and the Department for Work and Pensions (DWP) has committed to introducing equivalent legislation for trust-based defined contribution schemes in an upcoming Pension Schemes Bill. Nina Blackett, TPR’s Interim Executive Director of Strategy, Policy and Analysis, explains why trust-based schemes must also seize this opportunity to shape one of the biggest revolutions in pensions policy since auto enrolment.

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Member outcomes: Why it’s time for change  

/ David Fairs
graphic showing outstretched hand with paper forms.

The days of savers being left in small defined contribution schemes offering some benefits but little value are over, says David Fairs, TPR’s Executive Director of Policy, Analysis and Advice. Instead, it’s time for trustees to take advantage of available support and guidance to increase their skills in relation to investment decisions and take action to enable pension savers to access the investment opportunities that best support good outcomes — whether in their existing scheme or through consolidation.

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