Skip to main content

Your browser is out of date, and unable to use many of the features of this website

Please upgrade your browser.


This website requires cookies. Your browser currently has cookies disabled.

Governing the scheme

Having a clear purpose and strategy, the right skills and experience available, managing risks and conflicts of interest, and making sure the pension scheme provides value for members.

Scheme governance and controls

You must establish and operate internal controls that enable you to identify, evaluate and manage the risks that relate to your scheme.

Skills and experience

Make sure the people on your trustee board have the skills, knowledge and experience to run the scheme well.

Clear purpose and strategy

Having a business plan so that you manage your scheme effectively and get good outcomes for members.

Meetings and decision-making

Make sure you have effective board meetings and conduct timely decision-making.

Conflicts of interest

You must identify, monitor and manage any conflicts of interest of those involved in running your pension scheme.

Value for members

Monitor and record the value the scheme is achieving so you can make informed decisions on behalf of your members.

Working with advisers

Make sure you have the right people to help you run and make appropriate decisions about your pension scheme.

Detailed guidance

Guidance on skills and knowledge needed by trustee boards and the systems and controls they should have to manage risks and conflicts of interest, and provide value for members.

Detailed guidance: the governing body

Trustee Toolkit online learning

Free online learning on managing risks and making sure that the governing body has the right skills and experience. You must log in or sign up to use the Trustee Toolkit.

Trustee Toolkit