The Pensions Management Institute (PMI) has today announced details of a new DC governance qualification which will launch later this year and welcomes Mayer Brown and Towers Watson as Study Support Partners.
The qualification has been developed to ensure anyone running, advising on or governing DC workplace pension schemes maintains a high standard of governance knowledge, following recent changes and increasing complexity in the legislative requirements. Both Mayer Brown and Towers Watson have been working with the PMI to produce study materials to prepare candidates for the certificate’s examination.
Vince Linnane, Chief Executive of the PMI said: “Good governance should be integral to the operation of any pension scheme and is key to making sure that members get the outcomes they expect. We have been working in collaboration with Mayer Brown and Towers Watson for several months to develop the qualification that covers all the recent regulatory changes, provides expert advice on good governance and will be of interest to a wide range of industry specialists, including trustees, consultants, IFAs, administrators and members of governance committees.”
Peter Rowles, Head of Towers Watson’s UK retirement practice, said: “DC governance is an increasingly important and complex area that is regularly scrutinised by legislators. We strongly believe in the importance of good governance in helping to ensure DC schemes are well managed and inspire confidence from the employees and employers that contribute. We are therefore very excited to be working with the PMI to help inform and instruct the next generation of pension fund trustees.”
Ian Wright, Partner in Mayer Brown's UK Pensions Group and former PMI principal examiner, said: “New legislation and regulatory guidance around governance is intended to drive up standards across the pensions industry, but the sheer volume and pace of change has made it increasingly difficult to keep up to speed. Therefore we are delighted to be working to develop this new qualification to help people feel more confident about their governance.”
Beth Brown, Senior Associate from Mayer Brown's UK Pensions Group and Member of the PMI’s Awards in Pension Trusteeship Committee, added: “Good governance has always been at the heart of ensuring a scheme is well run to achieve its goals. Improving governance standards can only increase the chances for people to get the retirement lifestyle they want." Further information can be found in the consultation response on the PMI website at www.pensionspmi.org.uk/news-and-publications/pmi-qualification-consultations/