BAC Briefings

BAC Briefing is published as necessary to provide a short technical summary of a single topic.

Beginner’s guide to DC governance

DC governance

The Pensions Regulator says it will not accept two classes of scheme member – those that benefit from good DC governance and administration and those that do not. As part of its focus on 21st century trusteeship and governance, the Regulator is gearing up for a “targeted education and enforcement drive” during 2017.

In this BAC Briefing we provide an overview of what the Regulator expects from DC scheme trustees. We look back at the key developments during 2016, namely the introduction of a new DC code of practice and the Regulator’s consultation on 21st century trusteeship, before looking forward to what we can expect in 2017.

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Beginner’s guide to capital market solutions

As pension plans increasingly look towards the “end game”, there has been a growing volume of deals in which some or all of the plan sponsor’s risk has been transferred to an external provider.

In this BAC Briefing we provide an overview of the main products available in the market, what they involve, when a company might consider using them and the practical issues that need to be addressed to implement one of these solutions.

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Beginner’s guide to risk registers

Risk registers and dentists have a lot in common. Both are important for managing risks, you need to spend time with them at least twice a year and your heart sinks when the next session is approaching!

In this BAC Briefing we look at how to ensure your risk register is a useful tool for reviewing scheme risks leading to a proper discussion about their management, rather than developing into a large and unwieldy tick-box exercise.

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Beginner’s guide to reviewing advisers

Whether it is driven by a desire for good governance, concerns about fee levels or poor quality service, carrying out a formal review of scheme advisers is becoming increasingly common.

For good governance reasons and to keep your adviser relationship fresh and innovative, schemes should carry out a formal adviser review at least once every 5 to 6 years. However, more fundamental issues can arise with the adviser relationship over shorter timeframes, which could also trigger a review. In this BAC Briefing we set out some of the principles you should apply when carrying out a review.

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Beginner’s guide to master trusts

Master trusts provide an increasingly popular approach for meeting the governance challenges which employers face when setting up DC pension arrangements.

In this BAC Briefing, we look at why this is and give an overview of the nature and regulation of master trusts and the factors involved in choosing one.

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