Terms of Reference

Aim: To develop effective communication practice between trustees and pension industry professionals.

Approach

 This group will look into the question about what, from a trustee's point of view, makes for effective communication between trustees and pension industry professionals.

 "Trustees" will be taken to mean all types of trustee of occupational pension schemes and members of governance committees of other pension arrangements not constituted under trust.

 It will suggest ways that trustees and pension industry professionals can jointly enhance the effectiveness of their communication and promote better understanding among trustees. The guidelines will complement, and be consistent with the work of The Pensions Regulator and the supporting framework e.g. the Trustee Toolkit and the Codes of Practice and the Pensions Management Institute / Pensions Research Accountants Group Terminology Guide.

 The group will look to develop guidelines structured around real scenarios to facilitate ease of use and will cover the various communications media.

 The Group will develop a framework based on the role of the trustee and incorporating both the relationships that exist between trustees and pension industry professionals and the life cycle of a pension arrangement.

 "Pensions industry professionals" will be taken to mean the following:

Accountants/Auditors
Actuaries
Administrators (in-house / third party)
Asset consultants
Asset performance measurement consultants
Benefit and remuneration consultants
Communication consultants
Custodians
Employer covenant advisers
Independent Financial Advisers
Insurers
Investment managers
Lawyers
Medical advisers
Pension Protection Fund (PPF)
Pensions Managers
Pensions Ombudsman
Risk management consultants
Secretary to trustees
Sponsoring employers / Finance Directors
The Pensions Advisory Service (TPAS)
The Pensions Regulator (tPR)

Structure

 The work of the group will be overseen by the Steering Committee and reviewed by the Focus Group.

 Members of the group are as follows:

Grahame Goodyer
grahame.goodyer@rste.co.uk

Steve Presnell
steve.presnell@rste.co.uk

Andrew White (Chair)
andrew.white@rste.co.uk

 The group will aim to meet as and when required, which is expected to be at least every two months.