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TRANSCRIPT
Prepared by Aon Hewitt Retirement & Investment
Trustee Effectiveness Webinar 21 November 2017
Paul McGlone, Susan Hoare and Vanessa Jaeger
1
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Introduction & Agenda
Susan Hoare
Principal
Paul McGlone
Partner
Vanessa Jaeger
Senior Consultant
Our latest research 1
Expectations of the Pensions Regulator 2
Questions 3
2
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Role of the Chairperson
60
40
85
15
0
10
20
30
40
50
60
70
80
90
100
Challenge the status-quo No change
Perc
ent
Control group Encouraging chair
96
4
96
4
0
10
20
30
40
50
60
70
80
90
100
Challenge the status-quo No change
Perc
ent
Control group Encouraging chair
Trustee sample General sample
3
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Meeting Framework
0
100
200
300
400
500
600
Urgent itemsarising in last two
weeks
Long termstrategy-
generating ideas
Long termstrategy- develop
solutions andexecute
Agreeing lastmeeting minutes
Individual memberproblems
Business as usualstandard items
Any otherbusiness
Trustee sample
4
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Between Meeting Organiser
Trustee
meeting
The time
between
meetings
1. Minutes issued and
signed off digitally
2. Action log issued
3. Conform flexi team(s)
4. Deadlines and project
plans approved
1. Exploration team(s)
investigate strategy
2. Progress implementation
of strategy
3. Flexi team progress any
new or ongoing items
1. All teams (exploration
team, implementation
team and flexi team)
feedback in advance of
next meeting
1. Conflict form
2. Actions for the meeting
3. Information from
advisers
1. Minutes from last meeting
2. Actions
3. Key decisions on the
agenda
4. Reminder of conflict form
1. Sign conflict form
2. Raise AOB
3. Urgent items “ ”
The more work done outside
meetings will make time
together more effective
Source: Trustee quote from research findings
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Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Sub-Committees or Flexible Teams
40
60
0
10
20
30
40
50
60
70
80
Pick the existing team Pick your own team
Perc
ent
27
73
0
10
20
30
40
50
60
70
80
Pick the existing team Pick your own team
Perc
ent
Trustee sample General sample
6
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Devil’s Advocate
86
14
93
7
0
20
40
60
80
100
Yes I will take thiscomment into account
No I will not pay attentionto this comment
Perc
ent
One person Group
78
22
88
12
0
20
40
60
80
100
Yes I will take thiscomment into account
No I will not pay attentionto this comment
Perc
ent
One person Group
Trustee sample General sample
7
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Make up of an effective trustee board
Source: http://www.thepensionsregulator.gov.uk/docs/21st-century-trusteeship-governance-discussion-2016.pdf
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Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Latest Campaign
Launched September 2017: 10 themes
Good governance
Clear roles and responsibilities
Clear purpose and strategy
Competence and integrity
Upskilling and training
Managing advisers and providers
Managing conflicts of interest
Managing risk
Meetings and decision-making
Value for members
21st Century Trusteeship
Raising the standards
of governance
9
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Questions
?
10
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
More information
Trustee effectiveness web hub:
http://www.aon.com/unitedkingdom/retirement-investment/trustee-effectiveness/
Paul McGlone Susan Hoare Vanessa Jaeger
Partner Principal Senior Consultant
+44 (0) 1727 888 613 +44 (0) 117 900 4441 +44 (0) 1727 888 230
11
Aon Hewitt | Retirement & Investment
21 November 2017
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
Aon Hewitt Limited
Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.
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