Jurisdiction(s):
United Kingdom

Key definition

Governance definition

What does Governance mean? Governance, in pensions practice, describes how a trustee board organises itself and exercises oversight, decision-making and control over an occupational pension scheme to meet legal and fiduciary duties. It encompasses the scheme’s structures, policies and internal controls, and how trustees delegate to and supervise advisers, administrators and asset managers, monitor performance, manage risk and record decisions. The term is descriptive rather than a defined legal term, but key governance requirements are prescribed in legislation and regulatory codes. In the UK, the Pensions Act 2004 and scheme administration/governance regulations, together with The Pensions Regulator’s General Code, require an effective system...

Secretary to Pension Trustees: Legal and Governance Responsibilities, Meeting Administration, Minutes, Action Tracking, Conflicts and Corporate Trustee Company Secretarial Issues

Published by a LexisNexis Pensions expert

Practice notes

$imgtext$

Over recent years, the secretary to pension trustees has seen a marked shift in responsibilities and is now central to keeping a scheme operating efficiently. This Practice Note sets out the legal and Governance points that those taking on the position should understand, and clarifies what the appointment involves from a legal and governance perspective.

Change in the role of secretary

The operation of trust-based pension schemes has evolved markedly over the last ten years, elevating the secretary's significance. Previously, with fewer anxieties around funding and a softer regulatory regime, the secretary often served quietly as a recorder of minutes. Now, because trustees face heavier workloads and heightened expectations, the secretary's contribution must be broader. Typically, the secretary takes an active hand in managing the scheme, participating fully in trustee meetings and co-ordinating actions in the periods between them. At times, the secretary to the trustees will also be outward-facing to scheme members, appearing within the team administering the scheme or acting as a contact point for the membership. In short, the secretary is no longer a background figure but a key participant in scheme governance...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Tom McNaughton

Baker McKenzie

Tom is a Partner in the London office's Pensions Practice Group.Tom advises both pension scheme trustees and their sponsoring employers in various industries, with particular experience in relation to industry-wide schemes. He covers a variety of areas including advising in relation to pension scheme mergers, de-risking exercises, corporate transactions and re-organisations, scheme benefit redesigns and restructurings (including closures to accrual and other liability management exercises). He also advises on a number of contentious matters as part of the Pensions Department's pensions disputes practice.Representative clientsSignificant clients which Tom advises include the Trustee of the Merchant Navy Officers Pension Fund, a large industry-wide scheme.Recent maters on which Tom has advised include:Advising the Trustee of the Merchant Navy Officers Pension Fund on various de-risking and insurance transactions as part of its strategic journey planning.Acting in relation to litigation regarding potential changes to the inflation linking of...

Mark Baker

Pinsent Masons

Mark is a Partner at Pinsent Masons who advises trustees and sponsoring companies on all types of pensions matters, including changes to benefits, scheme restructuring, trustee governance and complex investment arrangements. He also has a particular focus on the auto-enrolment requirements that will apply from 2012 onwards, and the practical impact of those requirements for employers.Mark is a member of the Association of Pension Lawyers and sits on the committee of the Pensions Management Institute's Trustee Group. He speaks at pensions industry events and is a regular contributor to the pensions press....

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...