Over the last couple of months, we have invited you to #meetPAUL by sharing 10 factsheets designed to help "Protect Against Unmitigated Liabilities" (PAUL). The full set of factsheets, inspired by an industry survey conducted earlier in the year, are now available.
Here are some additional survey results that did not feature in our factsheets. They may (or may not) surprise you.
- The largest schemes in our survey were the least confident that they are prepared to tackle the risks faced by their schemes
- Trustees have slightly more confidence in their risk management framework than sponsoring employers
- The most common mitigation tips cited by survey respondents were:
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- Reviewing and updating processes and contracts for GDPR
- Keeping the scheme risk register up to date and under regular review
- Using professional advisers appropriately
- Auditing scheme administration
- Using sub-committees appropriately
Read our recent Pensions Practice insight for more information on our survey results.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.