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The Actuary The magazine of the Institute & Faculty of Actuaries
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Pension schemes confident in governance abilities

Ninety six per cent of pension schemes believe their trustee boards are governing effectively or very effectively, although defined benefit (DB) schemes were more confident than their defined contribution (DC) counterparts, according to research from The Pensions Regulator (TPR).

TPR’s fifth Scheme Governance Survey which polled 600 schemes, revealed that 40% of DC schemes thought their governance was ’very effective’, compared with 65% of DB schemes.

The survey also found confidence levels rose according to scheme size. Around half (49%) of small schemes regarded their governance as very effective, compared with 61% and 74% for medium and large schemes respectively.

June Mulroy, TPR executive director for DC, said: "Good governance is particularly important given the risks that members carry in DC schemes such as investment performance, value for money and converting their pension pot into an income".