Overview Registration and Governance of the Scheme
A corporate principal officer plays the role of trustee support function. This role in summary is to support the trustees in the exercise of their trust and to give the sponsor the comfort that the scheme is being, properly managed and administered.
- To manage the relationships with the fund manager, fund administrator, auditor and any other service providers or advisers.
- To monitor service levels and ensure that they comply with service agreements.
- To review and oversee implementation of an Investment Income Distribution Policy.
- To receive and review reports from service providers and provide independent assessments and guidance to the Trustees on quarterly basis.
- To develop, and oversee the implementation of an Administration and Accounting Procedures Manual to ensure proper administration of the Schemes.
- To organize, attend and take minutes at Trustee meetings as well as to oversee implementation of decisions taken by the Trustees.
- To manage relationships and communications with Scheme Members.
- To manage relationships with regulators, monitor compliance and guide and assist the trustees in taking all appropriate measures
- To review benefits computations in relation to withdrawals
- To keep the Sponsor informed of matters relating to the schemes
- To ensure Scheme documentation is kept up to date.
- To arrange and run Trustee training sessions as required.
Benefits Corporate principal officer services to your scheme
- Expertise: We have a wealth of experience in managing pension schemes and this can be of great value in terms of good governance and professional advice to your scheme.
- Networks: We bring on board a wider resources of skill variety and is likely to be able to address all the needs of the scheme.
- Collaboration: The corporate principal officer has also the mandate of ensuring that the objectives of the sponsor are met within the scheme. When the sponsor feels duly represented and by an expert, it becomes easy for them to make decisions quickly based on the professional advice they have been given. Trustees representing the sponsor and the trustees representing the members easily collaborate to make informed and timely decisions.
- Time: The board of trustees are also full time employees of the sponsoring organization and as such are required to give of their time and skills to their duties. By having a corporate principle officer they are able to delegate some of their duties to experts and concentrate on their work. This will enable them to minimize the time spent away from their core duties while effectively and professionally managing the scheme.
- Service: By appointing a corporate principal officer the trustees are able to provide quality service to the members of the scheme while minimizing on the time they actually spend personally overseeing the day to day running of the scheme.
- Quality assurance: Part of the mandate of the corporate principal officer is to ensure that the service providers appointed adhere to the service level agreements stipulated in their contracts. This enhances the quality of service and assures the sponsor together with the members, consistency in expected level of service.
- A well governed scheme will ensure that all risks related to the fund are mitigated and where possible completely eliminated from the scheme. This will give the fund an opportunity to focus on the most important part which is timely and efficient investments of the funds. Taking advantage of opportunities available in the market as well correctly positioning the scheme to benefit from these opportunities. Ultimately this will result to the growth of the funds and ensure a dignified retirement for all.
Who can benefit from our Corporate Principal Officer
- Occupational Pension Schemes
- Individual Personal Pension Schemes
Our service commitment
- Keep our principal involvement simple and convenient.
- Take a strategic view to ensure we understand your scheme.
- Work closely with the trustee and service providers to develop appropriate solutions.
- Guide you through the each process and share our commercial expertise and knowledge.
- Keep you regularly informed.
- Add value to your scheme.
- Provide cost-effective services.
- Provide discrete, responsive and professional service.