We have award-winning Governance and Administration Teams that aim to deliver first-class support to employers and members on a daily basis. We ensure schemes are governed professionally and managed in a way that conforms to regulatory requirements. These teams work together to provide effective solutions to help control risk, combined with costs savings, to give you confidence.
Governance at TPT
The presence and guidance of a highly experienced Trustee Board
allows us to take our schemes through a thorough governance process. The Trustee Board is ultimately responsible for all aspects of running a workplace pension scheme. They ensure it is well-managed, and are supported by a professional in-house team of 160 people. We have several specialist teams working hard to ensure that the Defined Benefit pension scheme governance we provide is first-class. These are:
Our Administration Team takes responsibility for the management of our DB schemes, providing you with a high quality, professional service. Your scheme would be administered by a dedicated team, working in partnership with you. When it comes to customer service, we receive consistently high satisfaction scores from our members and employers. We also have a highly experienced Employer Relationship Team, responsible for managing effective, and productive relationships with our employers.
The Trustee Services Team acts as the Scheme's guardian, promoting good governance and the highest standards of Trusteeship. The role of the team is to:
- ensure that the Trustee meets all of its statutory and regulatory requirements;
- ensure that the Trustee's powers under the Trust Deeds and Rules are exercised and discharged appropriately through well planned and executed scheme strategies. They also aim to take actions to increase the likelihood of members receiving their benefits in full, as well as protecting the Trustee from claims and liabilities;
- act as the Trustee's representative in negotiation with employers on scheme funding;
- implement and oversee the integrated risk management framework; and
- provide a quality secretariat service to the Trustee Board and Committees.
Our Integrated Risk Management Team uses specialist software to monitor a scheme's funding level and assess the progress of any recovery plan or agreed de-risking flight path. This helps us to make quicker decisions about scheme funding and provide up to date reports to employers and the Trustee Board.
Through an integrated approach, our in-house covenant experts assess the ability of the employer to support the Scheme and fund any deficit. We also monitor the potential risks to both the Scheme and the Employer that could impact on the security of members’ benefits.
Benefits of TPT
Consolidation of the services needed to run your DB pension scheme not only lifts the burden of scheme governance from your shoulders, but can also save time - allowing you to focus on other key aspects of your role. By moving your scheme over to us, we can ensure the scheme benefits from our consolidated approach and the scale of our assets - resulting in significant cost savings.
If you would like to know more about how we can help you, please get in touch