The Single / General Code, ESoG & ORA from a Pension Manager’s perspective

47% of pension scheme managers struggling with workload. This headline from a survey of pension scheme managers highlights the need for pension managers to work additional hours to keep up. And 61% say that they would need to seek external resource if the trustees or sponsoring employer wanted to carry out additional projects. A concerning headline as trustees turn to their pension manager to establish and potentially lead the Risk Management Function (one of the three Key Functions TPR needs to include in the General Code). A significant project to be undertaking at an already pressurised time. Importantly, pensions law states the Effective System of Governance (ESoG) needs to ensure the continuity and regularity in the performance of the scheme’s activities. This includes the development of contingency plans. The headline would suggest that the first action for the Risk Management Function would be to consider the continuity plan for the key person risk of the struggling pensions manager. Particularly if the pensions manager is leading the Risk Management Function. In this webinar Leanne Coomber and Paul Tinslay of Dalriada Trustees will discuss this challenge, providing guidance and tips for pensions managers and trustees constructing their written governance framework to support their ESoG