Independent advice ensures the best outcomes for your procurement exercise or scheme review
Pension regulation requires trustees to consider the conflicts of interest that may arise for their advisers when the latter are asked to advise on the appointment of investment managers, and other providers of key services that support the running of the scheme. In such situations, the trustees must carefully weigh such potential conflicts of interest when appointing advisers and considering advice received.
The Pensions Authority Codes of Governance state that trustees should consult every three years with independent experts who do not have a direct conflict of interest in advising the trustees. Assistance should be sought with identifying potential service providers, organising requests for proposal and interviews, understanding the capabilities of proposers, making comparisons and analysing costs.