Trustee Effectiveness Webinar Paul McGlone, Susan Hoare and Vanessa Jaeger Prepared by Aon Hewitt Retirement & Investment
Introduction & Agenda 1 Our latest research 2 Expectations of the Pensions Regulator 3 Questions Paul McGlone Partner Susan Hoare Principal Vanessa Jaeger Senior Consultant 1
Percent Percent Role of the Chairperson Trustee sample General sample Control group Encouraging chair Control group Encouraging chair 1 9 8 7 5 3 2 1 96 96 Challenge the status-quo 4 4 No change 1 9 8 7 5 3 2 1 85 Challenge the status-quo 15 No change 2
Meeting Framework Trustee sample 5 3 2 1 Urgent items arising in last two weeks Long term strategygenerating ideas Long term strategy- develop solutions and execute Agreeing last meeting minutes Individual member Business as usual problems standard items Any other business 3
Between Meeting Organiser The more work done outside meetings will make time together more effective Source: Trustee quote from research findings 1. Sign conflict form 2. Raise AOB 3. Urgent items 1. Minutes from last meeting 2. Actions 3. Key decisions on the agenda 4. Reminder of conflict form Trustee meeting The time between meetings 1. Minutes issued and signed off digitally 2. Action log issued 3. Conform flexi team(s) 4. Deadlines and project plans approved 1. Exploration team(s) investigate strategy 2. Progress implementation of strategy 3. Flexi team progress any new or ongoing items 1. Conflict form 2. Actions for the meeting 3. Information from advisers 1. All teams (exploration team, implementation team and flexi team) feedback in advance of next meeting 4
Percent Percent Sub-Committees or Flexible Teams Trustee sample General sample 8 7 73 8 7 5 5 3 27 3 2 2 1 1 Pick the existing team Pick your own team Pick the existing team Pick your own team 5
Percent Percent Devil s Advocate Trustee sample General sample One person Group One person Group 1 8 78 88 1 8 86 93 2 22 12 2 14 7 Yes I will take this comment into account No I will not pay attention to this comment Yes I will take this comment into account No I will not pay attention to this comment 6
Make up of an effective trustee board Source: http://www.thepensionsregulator.gov.uk/docs/21st-century-trusteeship-governance-discussion-216.pdf 7
Latest Campaign Launched September 217: 1 themes Good governance Clear roles and responsibilities Clear purpose and strategy Competence and integrity Upskilling and training Managing advisers and providers Managing conflicts of interest Managing risk Meetings and decision-making Value for members 21 st Century Trusteeship Raising the standards of governance 8
Questions? 9
More information Trustee effectiveness web hub: http://www.aon.com/unitedkingdom/retirement-investment/trustee-effectiveness/ Paul McGlone Susan Hoare Vanessa Jaeger Partner Principal Senior Consultant +44 () 1727 888 613 +44 () 117 9 4441 +44 () 1727 888 23 paul.mcglone@aonhewitt.com susan.hoare@aonhewitt.com vanessa.jaeger@aonhewitt.com 1
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