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Governance

With the changes in the relationship between companies and trustees, and the increased awareness of conflicts of interest issues, many organisations have recognised the need to have in place corporate pensions principles and philosophies that set down how retirement benefits should be designed, financed and invested. Accordingly, many of companies are looking seriously at setting up a pensions strategy/governance committee within the Company. The focus of such a body would be to drive the agenda on pensions going forward, taking Company proposals to the Trustees, rather than reacting to the business discussed within the Trustee forum.

Watson Wyatt can assist you in:

• Defining the terms of reference for a benefits governance committee
• Selecting the composition of the committee
• Preparing papers for/ensuring a smooth information flow to the committee
• Implementing decisions by the committee

Areas where Watson Wyatt can assist a benefits governance committee on a ongoing basis include:

• Continuous tracking of funding level on accounting, funding and discontinuance positions
• Stochastic projections of the accounting, funding and discontinuance positions based on varying investment strategies
• Monitoring of trends in investment markets, manager ratings and manager performance
• Projections of populations and liabilities over varying time-frames to identify longer-term patterns and trends
• Cashflow projections for matching investment strategies
• Analysis of corporate/pension risk measures
• Updates on legislation and the likely impact for the company