Getting value
from pension scheme risk management

Case studies

Putting risk management at the heart of pension trustees’ business

The background

A pension scheme trustee board was concerned that they were not getting any value from their risk register. This was an extensive and detailed document with over 50 risks identified. It was tabled at Trustee meetings once a year for review, usually at the end of the Trustee meeting, and given very little attention otherwise.

Our solution

We helped the trustee board:

  • Create a list of their 10 main objectives for the pension scheme
  • Identify the 15 key covenant, investment, funding and operational risks faced by their scheme, which might prevent the Trustees from achieving those objectives
  • Understand the interaction between these risks
  • Identify key metrics that could be used to monitor these risks
  • Develop an easy to use risk dashboard, supplemented by a live working risk document which not only lists the key risks and how they are being managed and monitored, but also includes a rolling actions list in relation to each key risk

The results

The Trustees have a much clearer vision of their objectives for the pension scheme and the key risks that might get in the way.

The risk dashboard and working risk document are considered at the outset of each and every Trustee meeting. This means that time at the meeting can be focused on current key issues, and ensures that risk management is at the centre of the Trustees management of the pension scheme.

Our client promise

In this video, Peter Thompson shares his personal experiences of working with us throughout his years as a professional trustee.

Discover how we can help

We help clients identify, manage and monitor pensions risks in an integrated way.

We can help trustees and corporates review the operation processes of pension schemes and ensure they remain fit for purpose. We also advise on the potential impact of IORPII for UK pension schemes, including the governance, risk management and other implications.

We help make governance simple and effective so that you can make decisions and act on opportunities quickly.