Pensions - Articles - Key findings from tPR scheme governance survey

 This week the Pensions Regulator published the 7th annual occupational scheme governance survey, following research with 424 trust based DB, DC and hybrid pension schemes. Key findings from the scheme governance survey include:

 • large schemes and DB/hybrid schemes are more likely to have higher governance standards than small, medium and DC schemes

 • 75% of schemes have documented their internal controls (up from 68% last year)

 • administration standards tend to be formally documented, however one in five schemes say that this is not the case

 • 47% of DB / hybrid schemes say that they fully integrate the management of their scheme risks; of the remaining schemes, having a clear action plan for when tolerances or another trigger is breached is the process that is least likely to be managed

 • trustee boards’ understanding of DC scheme charges remains broadly unchanged from last year’s survey, with relatively few demonstrating awareness and knowledge of their portfolio turnover rate

 • four out of five trustees make use of our Trustee toolkit, with the majority rating the programme as useful

 • three in four schemes are aware of the six principles for good workplace DC schemes which we published in December 2011.

 To find out more and to read the scheme governance survey report in full, please click here.