Helen Ball, Head of DC at Sackers, commented: “When it comes to member communication strategies, giving your lawyer a seat at the table can save both time and money in the long run. Lawyers will often spot potential pitfalls and they have lots of valuable experience that trustees and employees can use to their advantage.
“There are five key points to bear in mind:
One - Trustees are ultimately responsible for member communications, so it’s essential that they know, and keep under review, what is being published in their name.
Two - Electronic communications are subject to legal requirements. When communicating via email or a website, trustees must liaise with their legal advisors to ensure special rules are met.
Three - Care must be taken when simplifying detailed, technical information to aid member understanding. Before documents are finalised, trustees should check with lawyers to ensure legal requirements are still being adhered to.
Four - Make clear that the trust deed and rules take priority. While this is the general rule, including a statement to that effect in each member communication is good practice and should avoid any misunderstanding later.
Five - A complete communications strategy is good practice. Avoiding a piecemeal approach will ensure that communications are constructive and sent at all the right junctures in a member’s saving journey.”
Helen Ball continued: “Involving your lawyer in your scheme communications planning might not be the most obvious choice, but when it comes to protecting the interests of the scheme and members, it is certainly something all schemes should consider.”
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