Client feedback


​Their pragmatic approach helps with quick and easy decision making. Another approach might have made things more difficult.
Mark Assinder,
Bouygues
​I would recommend them to anyone - I have dealt with a number of other independent trustee firms and would rate PSIT as the best. We are very happy with Mark and the service we get.
Julia Morton,
Camellia plc
Very professional and engaged service.
Danny Nussbaum,
HR Director, Volvo
PSIT offered the right support at very short notice, at reasonable cost, when we really needed it
Ian Edwards,
Chair of Trustee, Comet Pension Scheme
​Mike is a great secretary. He does a really good job for us.
Clare Cairns,
Campden BRI Group
​We are extremely pleased with the appointment we made. The way Ian and Kerry react to us and work with us is brilliant. We are very happy.
Katherine Breading,
Tyser
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Pensions risk management

Understanding and managing risk is an integral part of running a scheme and achieving good pension scheme governance.


The Pensions Regulator’s (tPR) code of practice for funding defined benefit (DB) schemes focuses on pension trustees adopting an integrated approach to three key areas of risk:

1. the employer covenant
2. investment
3. funding

These three risk areas interact so each must be identified and assessed before pension trustees can make informed decisions on key pensions management issues such as setting scheme investment and funding strategies. These risks should then be monitored using a risk management framework proportionate to the size of scheme and budget available.

Pension scheme risk management is not simply a case of protecting against negative events - monitoring investment and funding risks enables pension trustees to plan de-risking strategies. In future, pension fund trustees may need to move away from using a single risk register - having a clearer distinction between operational and strategic risks may be beneficial.

To assess whether there are any gaps in your pension trustees’ risk management planning, ask yourself:

  • Do the trustees fully understand the risks faced by the scheme and the interaction between those risks?
  • Are the trustees comfortable with the level of risk being taken?
  • If any risk is excessive, have the trustees considered what action could be taken to reduce the risk?
  • Is there a framework in place to monitor investment, employer covenant and funding risks?
  • What would happen in the event of a significant change in investment returns, employer covenant or funding level? Is there a strategy in place to take mitigation actions?
Pension scheme risk reviews

An independent review helps demonstrate the importance you place on good pension scheme governance and compliance, as well as helping ensure you are meeting legal requirements and reflecting best practice guidance.

The PS Independent Trustees risk review:

  • tests the adequacy of your internal controls
  • checks the effectiveness of scheme policies
  • assesses the accuracy, efficiency and compliance of pension scheme management procedures, such as key administration tasks and your trustee discretion process
  • helps you better understand the full range of pension scheme risks and develop an integrated risk management framework

Like all PSIT’s pension scheme services, our risk review is tailored to suit the size and complexity of your scheme and your particular requirements, but can be based on one of our core review packages:

  • Essential: an ideal initial, high level assessment, or regular review within a formal governance framework
  • Advanced: a more in-depth review, either to give an extra layer of confidence or because there may be an issue that needs attention

To find out more about our pension scheme risk reviews and how they might benefit your scheme, contact us to talk it through or request our risk review service flyer.

Speak direct to our specialist in this area

Picture of Mike Ironside pension scheme secretary at PSIT

Mike Ironside

Scheme Manager

Or call us on:

0845 313 0024

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Award winners

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Call: 0845 313 0024

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