Our priorities for 2022
The trustees are constantly working to ensure the Mastertrust continues to meet the needs of our members and provide good value for money.
It’s our responsibility as trustees to make sure your scheme is run well. We set ourselves priorities for each year to ensure you receive value for the costs and charges you pay and that governance is of the highest standard. Our priorities are built around our strategic focus areas and for this year are as follows:
Priority
Committee Responsible
1.
Continue to revise our strategic plan, ensuring it aligns with the business strategic plan. Publish the Board’s purpose, priorities and principles of excellent governance.
Governance, Risk and Audit Committee
2.
Embed and utilise outputs from the Member Advisory Panel. Includes gaining further insights into member behaviours and communication preferences and seeking to tailor our approach to suit individual needs.
Communication Committee
3.
Continue to focus on engaging scheme members including the development of further trustee-led communications.
Communication Committee
4.
Develop our approach to focus on the growing scale of the Mastertrust.
Governance, Risk and Audit Committee
5.
Continue to oversee administration performance to ensure members are receiving a quality service within the agreed service levels.
Operations Committee; business as usual (BAU)
6.
Continue to develop our investment offering to optimise member outcomes and reflect differing member requirements. Investment governance will continue to be a priority, including the oversight of multiple default funds.
Investment Committee; business as usual (BAU)
7.
Deliver against our roadmap to net zero. Comply with the new requirements from the Taskforce for Climate Related Financial Disclosures.
Investment Committee
8.
Introduce a scheme level business continuity plan.
Governance, Risk and Audit Committee, for Board approval
9.
Continue to develop the At Retirement options, ensuring sufficient choice and including appropriate levels of guidance and advised support for members with growing retirement savings.
Board
10.
Develop a strategy for services to deferred members.
Communication Committee
You can find out more about the different Committees here.