More than half (54%) of UK pension trustee boards do not use a formal governance policy as a framework for decision making despite the increased scrutiny placed on the governance of pension schemes, according to a new study by PricewaterhouseCoopers LLP.
However, during the last two years there has been a significant emphasis on enhancements to governance with 70% of trustee boards making changes. More than half of trustee boards now have business plans, though some chairmen expressed considerable doubt about the effectiveness of their plans. Perhaps this is because business planning is still comparatively new for many trustees and its form and content varies considerably.
As part of PricewaterhouseCoopers second study on pension scheme governance, 81 chairmen of large pension schemes took part in an in-depth survey to amass insights into key trends and issues facing trustees. Forty-five percent of survey respondents chaired schemes with over £1 billion of assets.
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Findings of 2nd survey of UK pension scheme governance, please send an email to
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