DC pension scheme trustees need good oversight and risk management tools (Sponsored)

Jul 15, 2020

By Rose Leonard, Head of Corporate Distribution and Customer Relationship Management at Zurich

Defined contribution (DC) pension scheme governance is certainly getting the spotlight. Both the Pensions Authority and the European IORP II Directive have made clear the high standards of oversight and risk management expected of trustees.

Trustee DC Portal

Zurich’s Trustee DC Portal gives trustees access to an overview of their pension scheme key metrics together with the detail supporting it, such as:

  • scheme summary information;
  • current funds and strategy breakdown per member;
  • detailed member information;
  • current and historical scheme asset values; and
  • key information on which members are approaching or past their retirement.

You can also access:

  • a comprehensive Scheme Administration Report; and
  • your payroll upload functionality.

Trustees have the ability to download this important data through Zurich’s Trustee DC Portal. The diagram below gives an overview of how the portal works.

DC-portal-Zurich

Total Risk Profiling tool

Zurich can support scheme trustees all the way with reports, governance and risk management tools.

Zurich’s proprietary, top-down risk management tool called Total Risk Profiling (TPR) is a powerful, comprehensive, team-based risk management tool and risk analysis methodology which Zurich makes available to lay trustees of DC schemes. The tool facilitates a structured and systematic risk management process.

TRP-Zurich-process

So, if you’re a trustee of a medium to large defined contribution scheme and concerned about the level of oversight, governance and risk management expected of you, talk to us at Zurich. Visit www.zurich.ie/corporate or call 1850 804 251.

Rose Leonard is Head of Corporate Distribution and Customer Relationship Management and is a director of Zurich Trustee Services Limited, a wholly owned subsidiary of Zurich which provides trustee services to defined contribution pension schemes.

Rose is Past President and fellow of the Irish Institute of Pensions Management. She holds a MSc. Business from the UCD Smurfit Business School and has a post graduate Diploma in Corporate Governance. You can contact Rose at rose.leonard@zurich.com.

Zurich Life Assurance plc is regulated by the Central Bank of Ireland.

(This article is sponsored by Zurich.)