Taking on pensions manager duties for a hybrid scheme

Context

A large Hybrid scheme with over 40,000 members to which IGG is a co-trustee and Chair and provides Scheme Secretariat Services to the Trustee Board and committees.

The challenge

As part of the planned retirement, the in-house Manager was leaving the Scheme Sponsor and not being replaced. Whilst the corporate elements of the role were absorbed within the Sponsor’s HR function a gap remained which needed to be addressed between the Scheme Secretariat Services provided and the role performed for the Trustee Board by the Pensions Manager. The latter role primarily concerned, but was not limited to, managing adviser and service provider relationships.

Our approach

We were able to work with the retiring Pensions Manager and Trustee Board to identify which elements of their role were supporting the Trustee and then provide additional resource with relevant experience to supplement the Secretarial Services to provide a broader Pensions Manager and Governance support service to the Trustee Board.

The outcomes

A timely handover of duties with uninterrupted service to the Trustee Board together with the opportunity to clarify roles and responsibilities.